Jonas, Jeffrey, and Jude each have a $90,000 capital balance. Jonas is retiring from the business. The profit-and-loss-sharing ratio for Jonas, Jeffrey, and Jude is 1:2:3, respectively. Journalize the payment of $97,000 to Jonas upon his retirement on July 31.

Learning Objec S-F:12-10 Accounting for withdrawal of a partner Jonas Jeffrey, and Jude each have a $90,000 capital balance. Jonas is retiring from the business. The profit-and-loss-sharing ratio for Jonas, Jeffrey, and Jude is 1:2:3, respec tively. Journalize the payment of $97,000 to Jonas upon his retirement on July 31