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After liquidating noncash assets and paying creditors, account balances in the Oriole Co. are Cash $18,900; A, Capital (Cr.) $7,800; B, Capital (Cr.) $6,800; and
After liquidating noncash assets and paying creditors, account balances in the Oriole Co. are Cash \$18,900; A, Capital (Cr.) \$7,800; B, Capital (Cr.) $6,800; and C, Capital (Cr.) $4,300. 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.) Step by Step Solution
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Accounting
Authors: Warren S. Carl
23rd Edition
0324555865, 978-0324555868
