Kelly, Jen, and Thomas were partners who shared profit and loss in a 3:2:2 ratio. The partnership's capital balances were as follows: Kelly, $240,000; Jen, $200,000; and Thomas, $180,000. On January 5 of 2022, Thomas withdrew from the partnership and was paid $200,000 in partnership cash for his equity. Required: 1. Prepare the journal entries to record Thomas's January 5 withdrawal. 2. What are the ways that a partner can withdraw from the partnership? Explain the impact on firm's total assets and total equity under each of these circumstances.