Denise Oxley and Charles Tatum agreed to liquidate their partnership on May 31 of the current year.
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Denise Oxley and Charles Tatum agreed to liquidate their partnership on May 31 of the current year. On that date, after financial statements were prepared and closing entries were posted, the general ledger accounts had the balances shown in the Working Papers.
A cash receipts journal, page 8, a cash payments journal, page 10, and a general journal, page 5, are provided in the Working Papers. Work independently to complete the following problem.
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