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Exercise 12-10 Retirement of partner LO P4 Hunter, Folgers, and Tulp have been partners while sharing net Income and loss in a 5:2:3 ratio. On January 31, the date Tullp retires from the partnershlp, the equities of the partners are Hunter, $330,000; Folgers, $231,000 and Tulp, $165,000. Prepare Journal entries to record the retirement of Tullp under the followlng Independent assumptions. Assume Tullp is pald $165,000, $185,000, $135,000 for her equity using partnershlp cash. (Do not round Intermediate calculetions. Round final answer to the nearest whole dollar.) View transaction list View journal entry worksheet No Transaction General Journal Debit Credit Tulip, Capital 165,000 Cash 165,000 Tulip, Capital Hunter, Capital Folgers, Capital 165,000 57,142 142,857 185,000 Cash