The Cas, Don, and Ear partnership balance sheet and profit and loss percentages at June 30, 2011, are summarized as follows: On July 1, 2011, the partners agree that Cas is to retire immediately and...

The Cas, Don, and Ear partnership balance sheet and profit and loss percentages at June 30, 2011, are summarized as follows:





On July 1, 2011, the partners agree that Cas is to retire immediately and receive $161,000 for her partnership interest.
REQUIRED: Prepare journal entries to illustrate three possible methods of accounting for the retirement ofCas.