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Crystal and Nancy have partnership capital balances of $350,000 and $325,000, respectively. Nancy negotiates to sell her partnership interest to Jessica for $395,000. Crystal agrees

Crystal and Nancy have partnership capital balances of $350,000 and $325,000, respectively. Nancy negotiates to sell her partnership interest to Jessica for $395,000. Crystal agrees to accept Jessica as a new partner.

Prepare the partnership journal entry to record this transaction.

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