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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

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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 D ecember 31, 20xs: Ace, Capital Jack, Capital Spade, capital s151,500 200,600 120,900 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. tal interest for $151,100 in a personal transaction. Partnership assets were not revalued, and partnership ognized. (If no entry is required for a transaction/event, select "No journal entry required" in the first account goodwill was not rec field.) View transaction list View journal entry worksheet No Event General Journal Debit Credit Spade, Capital Jack, Capital 105 17 Next Pret

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