Katie Withdrew from the Partnership of Katie,Courtney,and Nathan,and Accepted $15,000

Multiple Choice

Katie withdrew from the partnership of Katie,Courtney,and Nathan,and accepted $15,000 cash.Her capital balance was $18,000 and the difference will be shared in a ratio of 2:1.The entry would be to:

A) debit Cash $15,000; credit Nathan,Capital $15,000.
B) debit Nathan,Capital $15,000; credit Cash $15,000.
C) debit Katie,Capital $18,000; credit Cash $15,000; credit Courtney,Capital $2,000; credit Nathan,Capital $1,000.
D) debit Cash $15,000; debit Nathan,Capital $1,000; debit Courtney,Capital $2,000; credit Katie,Capital $18,000.