Question
After liquidating noncash assets and paying creditors, account balances in the Mann Co. are Cash $17,470, A Capital (Cr.) $8,420, B Capital (Cr.) $5,050, and
After liquidating noncash assets and paying creditors, account balances in the Mann Co. are Cash $17,470, A Capital (Cr.) $8,420, B Capital (Cr.) $5,050, and C Capital (Cr.) $4,000. The partners share income equally. Journalize the final distribution of cash to the partners. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Account Tiles and explanation
Debit Credit
______________ ________________ _______________
______________ ________________ _______________
______________ ________________ _______________
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