On December 31,Sierra retires from the partnership of Sierra,Bret,and Trevor.

The partner capital balances are Sierra,

$38,000; Bret $47,000; and Trevor, $23,000.

The profit-and-loss-sharing ratio has been 5:3:2 for Sierra, Bret,and Trevor,

respectively.

Requirements

1.	Journalize the withdrawal of Sierra assuming she receives $60,000 cash.
2.	Journalize the withdrawal of Sierra assuming she receives $10,000 cash.

Requirement 1. Journalize the withdrawal of Sierra assuming she receives $60,000 cash. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.)