View Policies Current Attempt in Progress On December 31, the capital balances and income ratios in Sandhill Company are as follows. Partner Capital Balance Income Ratio Trayer $56,500 50% Emig 39,000 30% Posada 25,500 20% (a) Journalize the withdrawal of Posada under each of the following assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (1) Each of the continuing partners agrees to pay $16,600 in cash from personal funds to purchase Posada's ownership equity. Each receives 50% of Posada's equity. (2) Emig agrees to purchase Posada's ownership interest for $24,000 cash. (3) Posada is paid $30,300 from partnership assets, which includes a bonus to the retiring partner. (4) Posada is paid $17,020 from partnership assets, and bonuses to the remaining partners are recognized.