Requtred informatlon [The followng information applies to the questions displayed beiow] The partnership of Ace. Jack, and Spade has been in business for 25 years. On December 31,20×5, Spade decided to retire. The partnership balance sheet reported the following capital balances for each partner at December 31,20×5 : The partners allocate partnership income and loss in the ratlo 20.30:50, respectively. Required: Record Spade's wthdrawal under each of the following independent sltuations. Because of Iimited cash in the partnership. Spade recelved land wth a fair value of $101,800 and a partnership note payable for 51,200. The land's carrying amount on the partnership books was $61,300. Capital of the partnership after Spade's retirement was 360.600. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field)