Wright,Bell,and Edison Are Partners and Share Income in a 2:5:3

Multiple Choice

Wright,Bell,and Edison are partners and share income in a 2:5:3 ratio.The partnership's capital balances are as follows: Wright,$33,000,Bell $27,000 and Edison $40,000.Edison decides to withdraw from the partnership,and the partners agree not to revalue the assets upon Edison's retirement.The journal entry to record Edison's June 1 withdrawal from the partnership if Edison sells his interest to Whitney for $45,000 after the other two partners approve Whitney as partner is:

A) Debit Edison,Capital $45,000;credit Whitney,Capital $45,000.
B) Debit Edison,Capital $40,000;credit Cash $40,000.
C) Debit Edison,Capital $40,000;debit Wright,Capital $2,500;debit Bell,Capital $2,500;credit Whitney,Capital $45,000.
D) Debit Edison,Capital $40,000;credit Whitney,Capital $40,000.
E) Debit Edison,Capital $40,000;debit Cash $5,000;credit Whitney,Capital $45,000.