On December 31, Sierra retires from the partnership of Sierra, Blake, and Tripp. The partner capital balances are Sierra, $44,000; Blake $52,000; and Tripp, $19,000. The profit-and-loss-sharing ratio has been 5:3:2 for Sierra, Blake, and Tripp, respectively. Requirements 1. Journalize the withdrawal of Sierra assuming she receives $55,000 cash. 2. Journalize the withdrawal of Sierra assuming she receives $32,000 cash. Requirement 1. Journalize the withdrawal of Sierra assuming she receives $55,000 cash. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Dec. 31 Accounts and Explanation Debit Credit