The partnership of Ace, Jack, and Spade has been in business for 25 years. On December 31, 205, Spade decided to retire. The partnership balance sheet reported the following capital balances for each partner at December 31, 20X5: 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. Because of limited cash in the partnership, Spade received land with a fair value of $101,300 and a partnership note payable for 51,700 . The land's carrying amount on the partnership books was $61,900. Capital of the partnership after Spade's retirement was 361,800 . (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)