QS 12-11 (Algo) Partner withdrawal LO P4 Lopez, Cruz, and Perez are partners and share net income and loss in a 7:3:1 ratio (in ratio form: Lopez, 7/11; Cruz, 3/11; and Perez, 1/11). On December 31, Perez withdraws from the partnership when the equities of the partners are: Lopez, $4,300; Cruz, $3,100; and Perez, $2,500. Prepare journal entries to record Perez's withdrawal under each separate situation: Perez is paid for her equity using partnership cash of (1) $2,500; (2) $3,550; and (3) $1,350. X Answer is not complete. No Date General Journal Debit Credit 1 December 31 Perez, Capital 2,500 Cash O 2,500 2 December 31 Perez, Capital 2,500 315 X Lopez, Capital Cruz, Capital Cash OOO 735 X 3,550 3 December 31 Perez, Capital 2,500 Cash 1,350 805 Lopez, Capital Cruz, Capital 345