Camila, Dani, and Olivia are members of an LLC and share net income and loss equally. Olivia
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Camila, Dani, and Olivia are members of an LLC and share net income and loss equally. Olivia withdraws from the business when equity for each member is Camila, $18,000; Dani, $5,000; and Olivia, $7,000. Olivia is paid $10,000 for her equity in the LLC. Prepare the entry to record Olivia’s withdrawal.
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Camila Member Equity Dani ...View the full answer
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