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and Richardson each have a capital balance of $125,000. Katio is retiring from the parthership. The profft-and-loss sharing ratio is 1:2:1. Joumalize to Katie upon

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and Richardson each have a capital balance of $125,000. Katio is retiring from the parthership. The profft-and-loss sharing ratio is 1:2:1. Joumalize to Katie upon retirement. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Debit Credit Date Accounts and Explanation

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