On December 31, the capital balances and income ratios in RTE Company are as follows.Partner Capital Balance Income RatioTaylor $58,668 50% Edmond 42,654 30% Prada 26,170 20% (A) Journalize the withdrawal of Prada under each of the following assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)(1) Each of the continuing partners agrees to pay $18,981 in cash from personal funds to purchase Porada’s ownership equity. Each receives 50% of Prada equity.(2) Edmond agrees to purchase Prada ownership interest for $23,311 cash.(3) Prada is paid $30,938 from partnership assets, which includes a bonus to the retiring partner.(4) Prada is paid $17,810 from partnership assets, and bonuses to the remaining partners are recognized.(b) If Edmond’s capital balance after Prada’s withdrawal is $46,509, what were the total bonus to the remaining partners and the cash paid by the partnership to Prada?1.) Total bonus: 2.) Cash paid to Prada:
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