The A summary balance sheet for the DI, KANYA, MAHAL Partnership on December 31, 2021 is shown below. Partners DI, KANYA, MAHAL allocate profit and loss in their respective ratios of 2:3:5. The partnership agreed to pay partner MAHAL P300,000 for his partnership interest upon his retirement from the partnership on January 1, 2021.

Assets

Cash P 400,000

Inventory 300,000

Land 500,000

Building-net 800,000

Total assets P 2,000,000

Equities

DI, capital P 1,000,000

KANYA, capital 750,000

MAHAL, capital 250,000

Total equities P 2,000,000

Required: Prepare the journal entry to reflect MAHALs retirement from the partnership. USE BONUS METHOD, ASSET REVALUATION METHOD (BOTH PARTIAL AND FULL REVALUATION) and compute the capital balances after MAHAL retirement for each method.