On March 2, 2023, Zoe Wilson, Karen Taylor, and Veronica Jackson start a partnership to operate a personal coaching and lifestyle consulting practice for professional women. Zoe will focus on work-life balance issues, Karen on matters of style, and Veronica on health and fitness. They sign a partnership agreement to split profits in a 3:2:3 ratio for Zoe, Karen, and Veronica, respectively. The following are the transactions for Sheridan Personal Coaching: 2023 Mar. 2 The partners contribute assets to the partnership at the following agreed amounts: They also agree that the partnership will assume responsibility for Karen's note payable of $4,200. Dec. 20 Zoe, Karen, and Veronica each withdraw $25,200 cash as a "year-end bonus." No other withdrawals were made during the year. Dec. 20 Zoe, Karen, and Veronica each withdraw $25,200 cash as a "Year-end bonus." No other withdrawals were made during the year. 31 Total profit for 2023 was $92,400. 5024 Jan. 5 Zoe and Veronica approve Karen's request to withdraw from the partnership for personal reasons. They agree to pay Karen $12,600 cash from the partnership. 6 Zoe and Veronica agree to change their profit-sharing ratio to 4:5, respectively. Dec. 20 Zoe and Veronica withdraw $35,910 and $37,800 cash, respectively, from the partnership. 31 Total profit for 2024 was $103,950. 5025 Jan. 4 Zoe and Veronica agree to admit Dela Harrin to the partnership. Dela will focus on providing training in organizational skills to clients. Dela invests $26,040 cash for 25% ownership of the partnership. Date Account Titles and Explanation Debit Credit 2023 Mar. 2v Cash 12600 (Invest assets in business.) Mar. 2 4200 K. Taylor. Capital 18480 (Invest assets in business.) Mar. 2 Cash 16800 16800 (Invest assets in business.) (Record cash drawings.) 2024 Z. Wilson, Capital 5600 V. Jackson. Capital 7000 (To record withdrawal of partner.) Z. Wilson, Drawings \begin{tabular}{|r|} \hline 35910 \\ \hline \end{tabular} V. Jackson, Drawings 37800 Cash 73710 (To record cash drawings.) Income Summary 103950 Z. Wilson, Capital V. Jackson, Capital Dec31 Income Summary v 103950 \begin{tabular}{|ll|} \hline Z. Wilson, Capital & \\ \hline V. Jackson, Capital & \end{tabular} 46200 (To close Income Summary.) 2025 Z. Wilson, Capital V. Jackson, Capital D. Harrin, Capital (To record admission of partner.)