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, $$400,000$; Folgers, $$280,000$; and Tulip, $$200,000.$

Prepare journal entries to record the retirement of Tulip under the following independent assumptions.

Assume Tulip is paid $$200,000,$$$220,000,$$$170,000$ for her equity using partnership cash.

Note: Do not round intermediate calculations. Round final answers to the nearest whole dollar.

Journal entry worksheet

$1$

$2$

$3$

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.

$\backslash$table$[[$Transaction$,$General Journal,Debit,Credit$],[($c$),$Tulip, Capital,$200,000,],[,$Hunter, Capital,,$],[,$Folgers, Capital,,$],[,$Cash,,$],[,,,],[,,,]]$