Question 2 1.5 points Save Answer Ahmed, Badar and Habib have been partners while sharing net income and loss in a 5:3:2 ratio. (In percents: for Ahmed, 50%; for Badar, 30% and for Habib 20%) On January 31, the date Habib retires from the partnership, the equities of the partners are Ahmed, $100,000; Badar, $60,000 and Habib, $50,000. Habib is paid $40,000 for her equity using partnership cash. Prepare Journal entry to record Habib's retirement from the partnership. Habib's Capital Ahmed's Capital Dr. 40,000 Dr. 5,000 Badar's Capital Cash Dr. 5,000 Cr. 50,000 Habib's Capital Dr. 50,000 Ahmed's Capital Badar's Capital Cr. 6,250 Cr. 3,750 Cash Cr. 40,000 Habib's Capital Cash Dr. 40,000 Cr. 40,000 Habib's Capital Ahmed's Capital Badar's Capital Cash Dr. 40,000 Dr. 6,250 Dr. 3,750 Cr. 50,000