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  3. 2) retirement paid by personal assets. (cash was p

2) Retirement paid by personal assets. (cash was paid by one of the remaining partners,...

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2) Retirement paid by personal assets. (cash was paid by one of the remaining partners, i.e. partnership did not pay the retiring partner...no cash) Mary Toshiba, Vera Miles, and Debra Noll have capital balances of $50,000, $30,000, and $22,000, respectively, and their income ratios are 5:3:2. Journalize Noll's withdrawal/retirement from the partnership under each of the following independent conditions: a) Toshiba and Miles agree to purchase Noll's equity by paying $15,000 each from their personal assets. Each purchaser receives 50% of Noll's equity. b) Milos agrees to purchase all of Noll's equity by paying $22,000 cash from her personal assets. C) Toshiba agrees to purchase all of Noll's equity by paying $26,000 cash from her personal assets

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