Question 26 of 26 -/1 View Policies Current Attempt in Progress On December 31, the capital balances and income ratios in Sunland Company are as follows Partner Capital Balance $63.500 Income Ratio 50% Trayer Emig 42,500 30% Posada 33,500 20% (a) Journalize the withdrawal of Posada under each of the following assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually) (1) Each of the continuing partners agrees to pay $18,400 in cash from personal funds to purchase Posada's ownership equity. Each receives 50% of Posada's equity. Emig agrees to purchase Posada's ownership interest for $24.400 cash. (2) (a) Journalize the withdrawal of Posada under each of the following assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually) (1) (2) Each of the continuing partners agrees to pay $18.400 in cash from personal funds to purchase Posado's ownership equity. Each receives 50% of Posada's equity. Emig agrees to purchase Posada's ownership interest for $24,400 cash. Posada is paid $37,100 from partnership assets, which includes a bonus to the retiring partner, Posada is paid $25,500 from partnership assets, and bonuses to the remaining partners are recognized. (3) (4) Debit Credit No. Account Titles and Explanation 1