Trail equipment is a Trall Equipment is a partnership owned by three individuala. The partners ahate profits and losses in the ratio of $30$ percent to Karen Tenne, $40$ percent to Prank Dum, :$.$ and $30$ percent to Brin Hana. At December $31,2020,$ the firm has the following bal. ance sheet amounts:

Karen Tenne withdraws from the partnership on December $31.$

Required Record Tenne's withdrawal from the partnership under the following independent plans:

a$.$ In a personal transaction, Tenne sells her equity in the partnership to Michael Adams, who pays Tenne $$176,000$ for her interest. Dum and Hana agree to accept Adams as a partner.

b$.$ The partnership pays Tenre cash of $$72,000$ and gives her a note payable for the remainder of her book equity in settlement of her partnership. interest.

c$.$ The patmership pays Tenne $$260,000$ cash for her equity in the partnership.

d$.$ The partners agree that the equipment is worth $$548,000($net$).$ After the reva tion, the partnership settles with Tenne by giving her cash of $$41,000$ and in tory for the remainder of her book equity.