On January 5, 2023, Ron decides to leave the partnership. At the time of the withdrawal, each partner had the following balances in their capital accounts:

Harry, Capital - $185,000

Ron, Capital - $120,000

Hermione, Capital - $145,000

Ron agrees to accept $100,000 cash from the partnership upon his departure. According to the partnership agreement, any bonuses to the remaining partners should be divided 50:50.

Required:

1. Prepare the journal entry on January 5, 2023 to record Rons withdrawal from the partnership.