Jorge, Jared, and Judy each have a $50,000 capital balance. Jorge is retiring from the business. The profit-and-loss-sharing ratio for Jorge, Jared, and Judy is 12:3, repectively Journalize the payment of $56,000 to Jorge upon his retirement on July 31. (Record debits first, then credits. Select the explanation on the last line of the journal entry table Date Accounts and Explanation Debit Credit J. 31