Required information [The following information applies to the questions displayed below.] Meir, Benson, and Lau are partners and share income and loss in a 2:3:5 ratio (in percents: Meir, 20\%; Benson, 30\%; and Lau, 50\%). The partnership's capital balances are as follows: Meir, $84,000; Benson, $128,000; and Lau, $218,000. Benson decides to withdraw from the partnership. 1. Prepare journal entries to record Benson's February 1 withdrawal under each separate assumption: (Do not round intermediate calculations.) 1. Benson sells her interest to North for $160,000 after North is approved as a partner. 2. Benson gives her interest to a son-in-law, Schmidt, and Schmidt is approved as a partner. 3. Benson is paid $128,000 in partnership cash for her equity. 4. Benson is paid $166,000 in partnership cash for her equity. 5. Benson is paid $24,000 in partnership cash plus equipment that is recorded on the partnership books at $56,000 less accumulated depreciation of $17,920. Journal entry worksheet Record the withdrawal if Benson sells her interest to North for $160,000 after North is approved as a partner. Note: Enter debits before credits. Journal entry worksheet 5 Record the withdrawal of Benson on the assumption that she gives her interest to a son-in-law, Schmidt and Schmidff is approved as a partner. Note: Enter debits before credits. Journal entry worksheet Record the withdrawal of Benson on the assumption that she is paid $128,000 in partnership cash for her equity. Note: Enter debits before credits. Journal entry worksheet Record the withdrawal of Benson on the assumption that she is paid $166,000 in partnership cash for her equity. Note: Enter debits before credits. Journal entry worksheet Record the $24,000 payment in cash plus equipment recorded at $56,000 less accumulated depreciation of 17,920. Note: Enter debits before credits