#6 (version a) Partnership The capital balances of Slick, Partnership were as follows: Senior Slick, Cap Middle Slick, Cap Junior Slick, Cap $50,000 35,000 15,000 Junior Slick was such a pain to the other two older partners that they decided to remove him from the partnership. He was given $13,000 in cash and a company car. The vehicle had a fair market value of $5,000; a book value on the partnership books of $3,000; and a tax value of zero. Required: make the appropriate entry