Jill Parsons purchases for $72,000 Jamar's interest in the Tholen-Jamar partnership. Assuming that Jamar has a $68,000

Question:

Jill Parsons purchases for $72,000 Jamar's interest in the Tholen-Jamar Assuming that Jamar has a $68,000 capital balance in the what journal entry is made by the to record this transaction?

Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...