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Assume the following capital account balances. They are all credit balances. Capital Andy $82,500 Capital Bill $52,500 Capital Catherine $45,000 Bill desires to withdraw from

Assume the following capital account balances. They are all credit balances. Capital Andy $82,500 Capital Bill $52,500 Capital Catherine $45,000 Bill desires to withdraw from the partnership. He agrees to receive $60,000 cash. The remaining partners have agree to split any bonus or shortage 50/50 between them. Record the correct journal entry

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