AB 116 WEEK 6 On December 31 the capital balances and income ratios in TEP Company are as follows
Partner Capital Balance Income Ratio
Trayer $57,652 50%
Emig 37,596 30%
Posada 27,580 20%
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 $19,206 in cash from personal funds to purchase Posada- ownership equity. Each receives 50% of Posada- equity.
(2) Emig agrees to purchase Posada- ownership interest for $23,653 cash.
(3) Posada is paid $31,428 from partnership assets, which includes a bonus to the retiring partner.
(4) Posada is paid $18,932 from partnership assets, and bonuses to the remaining partners are recognized.
USA 
India