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Armstrong plans to leave the JT Partnership. At this time, her capital account is $48,000. The remaining partners, Tanner and Jackson, agree to pay Armstrong

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Armstrong plans to leave the JT Partnership. At this time, her capital account is $48,000. The remaining partners, Tanner and Jackson, agree to pay Armstrong $58,000. 1 Prepare the journal entry to record the withdrawal. Assume the partners have no agreement for sharing profits and losses

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