Required information Problem 12-5A Partner withdrawal and admission LO P3, P4 [The following information applies to the questions displayed below) Meir, Benson, and Lau are partners and share income and loss in a 3.2.5 ratio (in percents: Meir, 30%; Benson, 20%; and Lau, 50%). The partnership's capital balances are as follows: Meir, $168,000; Benson, $138,000; and Lau, $294.000, Benson decides to withdraw from the partnership Problem 12-5A Part 1 1. Prepare the journal entry to record Benson's withdrawal under each independent assumptions. (Do not round intermediate calculations.) (a) Benson sells her interest to North for $160,000 after North is approved as a partner; (b) Benson gives her interest to a son-in-law. Schmidt, and Schmidt is approved as a partner ( Benson is paid $138,000 in partnership cash for her equity: (c) Benson is paid $214,000 in partnership cash for her equity; and (e) Benson is paid $30,000 in partnership cash plus equipment recorded on the partnership books at $70,000 less its accumulated depreciation of $23,200, EUULUU UIT DIE STIU HOOKS DUUUU IHSS HIS LUCHUUUGI OLDUS Required information CWMDULTO Journal entry worksheet > 1 N 3 4 5 Record the withdrawal if Benson on the assumption that she gives her interest to a son-in-law, Schmidt and Schmidt is approved as a partner. Note: Enter debits before credits. General Journal Debit Credit Transaction (6) Record entry Clear entry View general journal Journal entry worksheet