Julio, Sabrina, and Cole each have a $400,000 capital balance. They share profits and losses as follows: 2:1:1 to Julio. Cole, respectively. Suppose Cole is withdrawing from the business. Requirements 1. Journalize the withdrawal of Cole if the partnership agrees to pay Cole $400,000 cash. 2. Journalize the withdrawal of Cole if the partnership agrees to pay Cole $180,000 cash. Requirement 1. Journalize the withdrawal of Cole if the partnership agrees to pay Cole $400,000 cash (Record debits credits. Select the explanation on the last line of the journal entry table.) Accounts and Explanation Date Debit 4 Credit

Julio, Sabrina, and Cole each have a $400,000 capital balance. They share profits and losses as follows: 21.1 to Julio Cole, respectively Suppose Cole is withdrawing from the business Requirements 1. Journalize the withdrawal of Cole if the partnership agrees to pay Cole $400,000 cash 2. Journalize the withdrawal of Cole if the partnership agrees to pay Cole $180,000 cash Requirement 1. Joumalize the withdrawal of Cole if the partnership agrees to pay Cole $400,000 cash (Record debits credits Select the explanation on the last line of the journal entry table )