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A competitor agrees to buy the inventory and store fixtures for $21,000. Prepare the journal entries detailing the liquidation, assuming that partners Colette and Swarma

image text in transcribed A competitor agrees to buy the inventory and store fixtures for $21,000. Prepare the journal entries detailing the liquidation, assuming that partners Colette and Swarma are sharing profits on a 50:50 basis. If an amount box does not require an entry, leave it blank

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