Jabar Hassan, Mohammed Badoo, and Sanji Patel have capital balances of $ 650,000, $ 500,000, and $ 425,000, respectively, and they share profit on a 5:3:2 basis.
Instructions
Journalize the withdrawal of Sanji from the partnership under each of the following independent circumstances:
a) Sanji is paid $ 425,000 in cash from partnership assets.
b) Sanji is paid $ 450,000 in cash from partnership assets.
c) Sanji is paid $ 400,000 in cash from partnership assets.

Question

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The Answer of Jabar Hassan, Mohammed Badoo, and Sanji Patel have capital balances of $ 650,000, $ 500,000, and $ 425,000, respectively, and they share profit on a 5:3:2 basis.
Instructions
Journalize the withdrawal of Sanji from the partnership under each of the following independent circumstances:
a) Sanji is paid $ 425,000 in cash from partnership assets.
b) Sanji is paid $ 450,000 in cash from partnership assets.
c) Sanji is paid $ 400,000 in cash from partnership assets.

Jabar Hassan, Mohammed Badoo, and Sanji Patel Have Capital Balances