Meir, Benson, and Lau are partners and share income and loss in a 2:3:5 ratio (in percents: Meir, 20% ; Benson, 30%, and Lau, 50%). The partnership's capital balances are as follows: Meir, $80,000; Benson, $122,000; and Lau, $208,000. Benson decides to withdraw from the partnership. 1. Prepare journal entries to record Benson's February 1 withdrawal under each separate assumption: (Do not round intermediate calculations.) 1. Benson sells her interest to North for $160,000 after North is approved as a partner. 2. Benson gives her interest to a son-in-law, Schmidt, and Schmidt is approved as a partner. 3. Benson is paid $122,000 in partnership cash for her equity. 4. Benson is paid $160,000 in partnership cash for her equity. 5. Benson is paid $24,000 in partnership cash plus equipment that is recorded on the partnership books at $56,000 less accumulated depreciation of $17,360. View transaction list Journal entry worksheet

Meir, Benson, and Lau are partners and share income and loss in a 23.5 ratio fin percents: Meir, 20K, Benson, 30N, and Lou, 50\%6). The partnership's copital balances are as follows: Meic, $80,000, Benson, $122,000, and Lau, $208,000. Benson decides to withdraw from the partnership. 1. Prepare journal entries to record Benson's February 1 withdrawal under each separate assumption: (Do not round intermediote colculations.) 1. Benson selis her interest to North for $160,000 after North is approved as a partner. 2. Benson gives her interest to a son-in-law, Schmidt, and Schmidt is approved as a partnet. 3. Benson is poid $122,000 in partnership cash for her equity. 4. Benson is paid $160,000 in portnership cash for her equity. 5. Benson is poid $24,000 in partnership cash plus equipment that is recorded on the partnership books at $56,000 less accumulate depreciation of $17,360. Journal entry worksheet 45 Record the withdrawal if Benson sells her interest to North for $160,000 after North is approved as a partner. Note: Enter debes before credits