B. Higgins, J. Mayo, and N. Rice have capital balances of $95,000, $75,000, and$60,000, respectively. They share
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Question:
B. Higgins, J. Mayo, and N. Rice have capital balances of $95,000, $75,000, and$60,000, respectively. They share income or loss on a 5:3:2 basis. Rice is paid $51,000 in cash from partnership assets for his withdrawal from the partnership. The entry to record the withdrawal includes a :
Select one:
a.debit N. Rice, Capital60000
b.credit cash60000
c.debit N. Rice, Capital51000
d.creditB. Higgins, Capital9000
Posted Date: