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Gale Melean and La att partners of Purpers and Pres Company with capital balances as follows: Gate 597000. Men 595.00 and 1, 5160,000. The partners
Gale Melean and La att partners of Purpers and Pres Company with capital balances as follows: Gate 597000. Men 595.00 and 1, 5160,000. The partners the front and losses in a 3.2.5 ratio Melen decides to withdraw from the partnership Prepare general journal entries to record the May 1, 2020, withdral of Mel.enn from the partnership under each of the following unreation a. Mel consells his interest to Freedman for $181.000 after Gale and Lut approve the entry of Freedman as partner (where Mete receives the cash personally from Freedman). b. Melean rives his interest to a sonin. Park Gale and Lix sccept Park as a partier c Molean is paid 595.000 in partnership ensh for his equity d. Mel.can is paid 5145.000 in partnership enth for his equity e. Melean is paid $40.250 in partnership cash plus machinery that is recorded on the partitership books at $128.000 leis accumulated depreciation or 596,000
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