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Carey and Drew formed a partnership on January 1, 2008. Carey invested $100,000, Drew $70,000. Each withdrew $12,000 on August 1, 2008. a. Prepare journal

Carey and Drew formed a partnership on January 1, 2008. Carey invested $100,000, Drew $70,000. Each withdrew $12,000 on August 1, 2008. a. Prepare journal entry to record withdrawal. b. Prepare journal entry to record closing of the withdrawal at 2008 year end

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