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On December 31, 2021. capital balances of the partners in Shelby Charters are M. Knight $14400C. Murphy $35.000 and T. Shelby $25.000. The partnera profit

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On December 31, 2021. capital balances of the partners in Shelby Charters are M. Knight $14400C. Murphy $35.000 and T. Shelby $25.000. The partnera profit in ratio respectively. Shelby decides that she is going to leave the partnership Assume that Shelby receives cash from the partnership when she withdraws. Journalize the withdrawal of Shelby if she receives $42.500 cash. (Credit accountilles are automatically indented when the amount is entered Do not indent manual Date Account Titles and Explanation Debit Credit Dec 31 (to record withdrawal of partner

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