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Darla, Ellen, and Frank have capital balances of $30,000,$40,000 and $50,000 respectively when Ellen personally agrees to buy Darla's share of the partnership. Ellen pays
Darla, Ellen, and Frank have capital balances of $30,000,$40,000 and $50,000 respectively when Ellen personally agrees to buy Darla's share of the partnership. Ellen pays Darla $35,000, Once the transaction has been recorded, Ellen's capital account will have a balance of $65,000$35,000$70,000$5,000
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