The partners' capital (income-sharing ratio in parentheses) of Amar, Bilal, Cema & Dema LLP on May 31, 2015, was as follows: Amar (20%) $ 60,000 Bilal (20%) 80,000 Cema (20%) 70,000 Dema (40%) 40 000 Total partners' capital $ 250,000 Required: On May 31, 2015, with the consent of Amar, Bilal, and Dema: 1. Cema retired from the partnership and was paid $50,000 cash in full settlement of his interest in the partnership. 2. Raed was admitted to the partnership with a $20,000 cash investment for a 10% interest in the net assets of Amar, Bilal, Dema & Raed LLP. No qoodwill was to be recoqnized for the foreqoinq events. Prepare journal entries on May 31, 2015, to record the foregoing events. Date Acct. & Ex lanation DR. Cr.