Santino is to withdraw from Mariposa Partnership, owned by partners Macario, Policarpio and Santino, with capital balances of P200,000, P250,000 and P100,000. Macario purchased 60% of Santino's...

Extracted text: Santino is to withdraw from Mariposa Partnership, owned by partners Macario, Policarpio and Santino, with capital balances of P200,000, P250,000 and P100,000. Macario purchased 60% of Santino's interest for P65,000 while Policarpio paid Santino P50,000 for the remainder. Instruction: Give the entry to record the withdrawal of Santino from the Partnership.