Hunter, Folgers, and Tulip have been partners while sharing net income and loss in a 5:3:2 ratio (in percents: Hunter, 50%; Folgers, 30%; and Tulip, 20%). On January 31, the date Tulip retires from the partnership, the equities of the partners are Hunter, $300,000; Folgers, $210,000; and Tulip, $150,000. Prepare journal entries to record the retirement of Tulip under the following independent assumptions. Assume Tulip is paid $150,000, $170,000, $120,000 for her equity using partnership cash. Note: Do not round intermediate calculations. Round final answers to the nearest whole dollar. View transaction list Journal entry worksheet 2 Record the retirement of Tulip on the assumption that she is paid for her equity using partnership cash of $150,000. Note: Enter debits before credits. Transaction General Journal Debit Credit (a) Tulip, Capital Cash 150,000 150,000 Record entry Clear entry View general Journal Hunter, Folgers, and Tulip have been partners while sharing net income and loss in a 5:3:2 ratio (in percents: Hunter, 50%; Folgers, 30%; and Tulip, 20%). On January 31, the date Tulip retires from the partnership, the equities of the partners are Hunter, $300,000, Folgers, $210,000; and Tulip, $150,000. Prepare journal entries to record the retirement of Tulip under the following independent assumptions. Assume Tulip is paid $150,000, $170,000, $120,000 for her equity using partnership cash. Note: Do not round intermediate calculations. Round final answers to the nearest whole dollar. View transaction list Journal entry worksheet 2 3 Record the retirement of Tulip on the assumption that she is paid for her equity using partnership cash of $170,000. Note: Enter debits before credits. Transaction General Journal Debit Credit (b) Tulip, Capital 150,000 Hunter, Capital 12,000 Folgers, Capital Cash 7,000 Record entry Clear entry View general journal Hunter, Folgers, and Tulip have been partners while sharing net income and loss in a 5:3:2 ratio (in percents: Hunter, 50%; Folgers, 30%; and Tulip, 20%). On January 31, the date Tulip retires from the partnership, the equities of the partners are Hunter, $300,000; Folgers, $210,000; and Tulip, $150,000. Prepare journal entries to record the retirement of Tulip under the following independent assumptions. Assume Tulip is paid $150,000, $170,000, $120,000 for her equity using partnership cash. Note: Do not round intermediate calculations. Round final answers to the nearest whole dollar. View transaction list Journal entry worksheet < Record the retirement of Tulip on the assumption that she is paid for her equity using partnership cash of $120,000. Note: Enter debits before credits. Transaction (c) General Journal Debit Credit Record entry Clear entry View general journal