Lopez, Cruz, and Perez are partners and share net income and loss in a 6:4:1 ratio (in ratio form: Lopez, 6, 11, Cruz, 4/11; and Perez, 1/11). On December 31, Perez withdraws from the partnership when the equities of the partners are: Lopez, $4,060 Cruz, $2.800; and Perez. $2,200. Prepare journal entries to record Perez's withdrawal under each separate situation: Perez is pair her equity using partnership cash of (1) $2,200; (2) $3,100; and (3) $1,200. View transaction list Journal entry worksheet < 1 2 3 Record the retirement of Perez assuming that she is paid $1,200 for her equity. Note: Enter debits before credits. Date December General Journal Debit Credit Perez, Capital 2,200 31 Lopez, Capital Cruz, Capital Cash 1,200 D 14 of 20 Next >