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Baker retires from the partnership of Collins, King, and Baker. The partners share profits and losses in the ratio of 3 : 4 : 3
Baker retires from the partnership of Collins, King, and Baker. The partners share profits and losses in the ratio of :: respectively. Baker's capital balance is $ and he receives $ in
final settlement. What is the effect on the capital accounts of Collins and King?
A Collins' capital increases by $
B King's capital decreases by $
C Collins' capital decreases by $
D Collins' capital decreases by $
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