Required information The following information applies to the questions displayed below The partnership of Ace, Jack, and Spade has been in business for 25 years On December 31, 20X5, Spade decided to retire. The partnership balance sheet reported the following capital balances for each partner at December 31, 20X5 Ace, Capital $150, 800 Jack, 200,400 Capital Spade, Capital 120,400 The partners allocate partnership income and loss in the ratio 20:30.50, respectively Required: Record Spade's withdrawal under each of the following independent situations. d. Spade received $60,300 of cash and partnership land with a fair value of $120,500 The carrying amount of the land on the partnership books was $101,500. Capital of the partnership after Spade's retirement was $309.800 (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Record the revaluation of land. A Record the payment of cash and land to Spade upon his retirement. Required information The following information applies to the questions displayed below] The partnership of Ace, Jack, and Spade has been in business for 25 years. On December 31, 20X5, Spade decided to retire. The partnership balance sheet reported the following capital balances for each partner at December 31, 20X5: Ace, Capital $150,800 Jack, 200,400 Capital Spade, Capital 120,400 20.30:50, respectively The partners allocate partnership income and loss the Required: Record Spade's withdrawal under each of the following independent situations e. Spade received $151,900 of partnership cash upon retirement. The partnership recorded the portion of goodwill attributable to Spade. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet