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41 (1 point) The profit-sharing percentages of partners Jones, Jackson, and Jolly are 40 percent, 40 percent, and 20 percent, respectively. Their capital account balances
41 (1 point) The profit-sharing percentages of partners Jones, Jackson, and Jolly are 40 percent, 40 percent, and 20 percent, respectively. Their capital account balances are $40,000, $30,000, and $20,000, respectively. Jones withdraws from the partnership and receives $36,000 from the partnership in settlement of his withdrawal. As a result of this transaction: O the capital account of Jackson is credited for $2,668. the capital account of Jackson is debited for $1,000. the capital account of Jackson is credited for $1,000. the capital account of Jackson is not affected. Questic
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