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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

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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