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After liquidating noncash assets and paying creditors, account balances in the Pharoah Co. are Cash $18,100: A, Capital (Cr.) $8,500; B. Capital (Cr.) $6,400;
After liquidating noncash assets and paying creditors, account balances in the Pharoah Co. are Cash $18,100: A, Capital (Cr.) $8,500; B. Capital (Cr.) $6,400; and C. Capital (Cr.) $3,200. 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 Titles and Explanation Debit Credit
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Principles Of Financial Accounting
Authors: Jerry J. Weygandt, Lorena Mitrione, Michaela Rankin, Keryn Chalmers, Paul D. Kimmel
3rd Edition
0730302296, 978-0730302292
