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Julie Lane, Sara Miles, and Amber Noll have capital balances of $49,700, $35,700, and $25,300, respectively. The profit and loss ratio is 5:3:2. Assume Noll

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Julie Lane, Sara Miles, and Amber Noll have capital balances of $49,700, $35,700, and $25,300, respectively. The profit and loss ratio is 5:3:2. Assume Noll withdraws from the partnership on December 31 of the current year under each of the following independent conditions: 1. 2. 3. Miles agrees to purchase all of Noll's equity by paying $29,940 cash from her personal assets. Noll withdraws $25,300 cash from the partnership Noll withdraws $30,500 cash from the partnership, Journalize the withdrawal of Noll under each of the above assumptions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Debit Credit Account Titles and Explanation A. Noll, Capital 25300 (1) Dec. 31 25300 S. Miles Drawings (To record withdrawal of a partner) A. Noll, Capital (2) Dec. 31 25300 Cash 25300 (To record withdrawal of a partner.) (3) Dec 31 A. Noll, Capital 25300 Lane, Capital S. Miles, Capital Cash (To record withdrawal of a partner.)

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