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10. Cooper, Kiley, and Robinson each have a capital balance of $130,000. Kiley is retiring from the partnership. The profit-and-loss sharing ratio is 1:2:1. Journalize
10. Cooper, Kiley, and Robinson each have a capital balance of $130,000. Kiley is retiring from the partnership. The profit-and-loss sharing ratio is 1:2:1. Journalize the payment of $135,000 to Kiley upon retirement. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Debit Credit Date Accounts and Explanation
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