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 Jack, Capital Spade, Capital $150,800 201,100 120,500 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. c. Spade received $181,600 of partnership cash upon retirement. Capital of the partnership after Spade's retirement was $290,800. (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 es A Record the payment of the bonus to Spade upon his retirement. Note: Enter debits before credits Event General Journal Debit Credit 13 13 14 15 17 of 18 Next > 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 Jack, Capital Spade, Capital $150,800 201,100 120,500 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 $61,000 of cash and partnership land with a fair value of $121,100. The carrying amount of the land on the partnership books was $101,600. 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 Journal entry worksheet < A B Record the revaluation of land. Note: Enter debits before credits. d. Spade received $61,000 of cash and partnership land with a fair value of $121100. The carrying amount of the land on the partnership books was $101,600. 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 Journal entry worksheet < A B Record the payment of cash and land to Spade upon his retirement. Note: Enter debits before credits