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 $150,400 201,200 121,900 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 $180,600 of partnership cash upon retirement. Capital of the partnership after Spade's retirement was $292,900. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet A Record the payment of the bonus to Spade upon his retirement. Note: Enter debits before credits. Event 1 General Journal Debit Credit