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ed Armstrong plans to leave the TJ Partnership. Currently, her capital account is $42,000. Assume the partners have no agreement for sharing profits and losses.

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ed Armstrong plans to leave the TJ Partnership. Currently, her capital account is $42,000. Assume the partners have no agreement for sharing profits and losses. Prepare the journal entry to record the withdrawal under the following assumptions. The remaining partners, Tanner and Jackson, agree to pay Armstrong $60,000

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