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4. The profit-sharing percentages of partners Jones, Jackson, and Jolly are 40 percent, 40 percent, and 20 percent, respec- tively. Their capital account balances are

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4. The profit-sharing percentages of partners Jones, Jackson, and Jolly are 40 percent, 40 percent, and 20 percent, respec- tively. Their capital account balances are $40,000, $30,000, and $20,000, respectively. Jones withdraws from the part- nership and receives $36,000 from the partnership in settle- ment of his withdrawal. As a result of this transaction: a. the capital account of Jackson is credited for $2,668. b. the capital account of Jackson is debited for $1,000. c. the capital account of Jackson is credited for $1,000. d. the capital account of Jackson is not affected

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