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Lopez, Cruz, and Perez are partners and share net income and loss in a 731 ratio. On December 31, Perez withdraws from the partnership when

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Lopez, Cruz, and Perez are partners and share net income and loss in a 731 ratio. On December 31, Perez withdraws from the partnership when the equities of the partners are: Lopez, $3.400, Cruz, $2,200, and Perez, $1,600. Prepare journal entries to record Perez's withdrawal under each of the following separate sttuations: Perez is paid for her equity using partnership cash of () $1,600, (2 $2,200; and (3) $900 View transaction list Journal entry worksheet Record the retirement of Perez assuming that she is paid $2,200 for her equity. Note: Enter debits before credits Debit Credit General Journal Date Dec 31 Perez, Capital Lopez, Capital ruz, Capital Cash View general journal Clear entry Record entry K Prex3 of 6 Next > arch

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