Problem #21 Withdrawal and Admission of Partners The partners' capital (income-sharing ratio in parentheses) of Rivadelo, Del Mundo, Galvan and Samson on May 31, 2018, was as follows: Rivadelo (20%) P. 60,000 Del Mundo (20%) 80,000 Galvan (20%) 70,000 Samson (40%) 40,000 Total partners' capital P250,000 On May 31, 2018, with the consent of Rivadelo, Del Mundo, and Samson: a. Galvan retired from the partnership and was paid P50,000 cash in full settlement of his interest in the partnership. b. Mamitag was admitted to the partnership with a P20,000 cash investment for a 10% interest in the net assets of the partnership. No goodwill will be recognized. Required: Prepare the journal entries to record the foregoing events