Shirley Bray and Carl Carter are partners who share profits and losses equally. The current balances in

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Shirley Bray and Carl Carter are partners who share profits and losses equally.

The current balances in their capital accounts are: Bray, $50,000; Carter, $35,000.

If Carter sells his interest in the firm to Deacon for $70,000 and Bray consents to the sale, what entry should be made in the partnership accounting records? LO5

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Accounting The Basis For Business Decisions

ISBN: 9780070415515

5th Edition

Authors: Robert F. Meigs, Walter B Meigs

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Question Posted: Jul 01, 2024 02:22 AM

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Shirley Bray and Carl Carter are partners who share profits and losses equally. The current balances in

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Accounting The Basis For Business Decisions

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