Lopez, Cruz, and Perez are partners and share net income and loss in a 7:3:1 ratio (in ratio form: Lopez. 7/11; Cruz, 3/11; and Perez, 111). On December 31, Perez withdraws from the partnership when the equities of the partners are: Lopez, $4,300; Cruz, $3,100; and Perez, $2,500. Prepare journal entries to record Perez's withdrawal under each separate situation: Perez is paid for her equity using partnership cash of (1) $2,500 (2) $3,550; and (3) $1,350. View transaction list Journal entry worksheet 2 Record the retirement of Perez assuming that she is paid $3,550 for her equity Note Enter debits before credits Date General Journal Debit Credit Dec 31 2.500 Peret, Capital Lopez, Capital Cruz, Capital (Cash Journal entry worksheet Record the retirement of Perez assuming that she is paid $1,350 for her equity. Note: Enter debits before credits General Journal Debit Credit Date Dec 31 2,500 Perez, Capital Lopez, Capital Cruz, Capital Cash Record entry Clear entry View general Journal