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D. Sims withdraws from a partnership with two other partners. Sims agrees to take $20,000 cash in settlement of his capital balance of $15,000. The
D. Sims withdraws from a partnership with two other partners. Sims agrees to take $20,000 cash in settlement of his capital balance of $15,000. The remaining $5,000 will be (debited/credited) _______ to the ______ account(s).
Multiple choice question.
credited; Cash
debited; remaining partners capital accounts
credited; withdrawing partners capital account
debited; Cash
credited; remaining partners capital accounts
debited; withdrawing partners capital account
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