On December 31, the capital balances and income ratios in Oriole Company are as follows. Partner Capital Balance Income Ratio Trayer $56,500 50% Emig 40,500 30% Posada 32,000 20% Journalize the withdrawal of Posada under each of the following assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (1) Each of the continuing partners agrees to pay $19,200 in cash from personal funds to purchase Posada's ownership equity. Each receives 50% of Posada's equity. (2) Emig agrees to purchase Posada's ownership interest for $23,600 cash. (3) Posada is paid $35,600 from partnership assets, which includes a bonus to the retiring partner. (4) Posada is paid $23,840 from partnership assets, and bonuses to the remaining partners are recognized. No. Account Titles and Explanation 1. Posada, Capital Trayer, Capital Emig, Capital Debit 32000 2. Posada, Capital 32000 Emig, Capital 3. Trayer, Capital 2250 Emig, Capital 1350 Posada, Capital 32000 Cash 32000 4. Posada, Capital Emig, Capital Cash Trayer, Capital Credit 16000 16000 32000 35600 3060 23840 5100 (b) * Your answer is incorrect. If Emig's capital balance after Posada's withdrawal is $44,070, what were (1) the total bonus to the remaining partners and (2) the cash paid by the partnership to Posada? (1) Total bonus $ 22980 (2) Cash paid to Posada $ 22980 eTextbook and Media