Rachel, Monica and Joey decide to form a partnership called "RMJ KidsRUs" to start a business specialising in children's clothing, footwear and toys. 5 pts Upon discussion, all the partners agree to contribute cash of $20,000 each. In addition, Rachel contributes children's clothing she bought five months prior for $87,000, with a current market value of $78,100; Monica contributes new IT equipment worth $22,300 to help with online sales and Joey contributes a delivery car with a carrying value of $37,500 and fair value of $19,600. The partners decide to split the first $30,000 of the business's profits/losses equally amongst the partners, and any additional profits/losses in proportion to their initial capital contributions to the partnership. The trio are unsuccessful in the first year and record a loss of $95,000. Following the loss, Joey ecides to pursue his dream of becoming an actor so he decides to leave the partnership and ithdraws $13 000 from the business on his denarture ally amongst the eir initial capital contributions to the trio are unsuccessful in the first year and record a loss of $95.000 Following the loss, Joey decides to pursue his dream of becoming an actor so he decides to leave the partnership and withdraws $13,000 from the business on his departure. Required: a) Journalise the distribution of the $95,000 loss in the first-year of the partnership. When calculating the partners' capital contribution percentages, round to 1 decimal place (example 24.5%) (2 marks) b) Journalise the departure (withdrawal) of Joey from the partnership (3 marks) Note: No explanations are required. Please distinguish between your responses to part a) and b)