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6. Kyle King, Lolly Lewis and Martha Moore are equal partners in the KLM Partnership. On July 1st, Lolly Lewis withdrew from the partnership and

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6. Kyle King, Lolly Lewis and Martha Moore are equal partners in the KLM Partnership. On July 1st, Lolly Lewis withdrew from the partnership and received a $50,000 cash payment. At the time of the withdrawal Lolly had a $30,000 balance in her capital account Required: Prepare the appropriate journal entry for Lolly's withdrawal from the KLM Partnership

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