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On December 31, the capital balances and profit and loss ratios in Sunland Company are as follows:
Partner Capital Balance Profit and Loss Ratio
H. Fercho $135,000 60%
P. Jiang $59,400 30%
R. Antony $51,000 10%
Antoni is withdrawing from the partnership.
Question a) Journalize the withdrawal of Antoni if using personal funds, Jiang agrees to purchase Antoni's ownership interest for $60,300 cash.
Question b) Journalize the withdrawal of Antoni if Antoni is paid $60,300 from partnership assets
Question c) Journalize the withdrawal of Antoni if Antoni is paid $39,900 from partnership assets
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