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Chapter - Partnership 1. Explain what the problem is with being a general partner in a partnership 2. In the last entry for a Statement

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Chapter - Partnership 1. Explain what the problem is with being a general partner in a partnership 2. In the last entry for a Statement of Liquidation cash is distributed to the partners. How is this done and why? 3. Henry wanted to purchase an interest in a partnership from Bertha. He paid $11,000 to her for the complete interest. The partnership capital account of Bertha showed only $4,000. Record the entry required

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