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Following are the capital account balances and profit and loss percentages (indicated parenthetically) for the William, Jennings, and Bryan partnership: William (40%) Jennings (40%) Bryan

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Following are the capital account balances and profit and loss percentages (indicated parenthetically) for the William, Jennings, and Bryan partnership: William (40%) Jennings (40%) Bryan (20%) $290,000 240,000 220,000 Darrow invests $330,000 in cash for a 30 percent ownership interest. The money goes to the business. No goodwill or other revaluation is to be recorded. After the transaction, what is Jennings's capital balance? Multiple Choice $240,000 $242,400 $241,800 $339,000

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