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, $118,000; Benson, $79,000; and Lau, $203,000. Benson decides to withdraw from the partnership. Problem 12-5A Part 2 2. Assume that Benson does not retire from the partnership described in Part 1. Instead, Rhode is admitted to the partnership on February 1 with a 25% equity. Prepare journal entries to record Rhode's entry into the partnership under each separate assumption: Rhode invests (a) $133.333: (b) $97,333; and (c) $174,666. (Do not round your intermediate calculations.) View transaction list Journal entry worksheet > Record the admission of Rhode with an investment of $174,666 for a 25% interest in the equity. Note: Enter debits before credits. Transaction General Journal Debit Credit (C) Record entry Clear entry View general journal