Question
Gale, McLean, and Lux ore partners of Burgers and Brew Company with capital balances as follows: Gale, $98,000, McLean, $97,000, and Lux, $161,000. The
Gale, McLean, and Lux ore partners of Burgers and Brew Company with capital balances as follows: Gale, $98,000, McLean, $97,000, and Lux, $161,000. The pertners share profit and losses in a 3:2:5 ratio. McLean decides to withdraw from the partnership. Prepare General Journal entries to record the May 1, 2024, withdrawa of McLean from the partnership under each of the following unrelated assumptions: a. McLean sells his interest to Freedman for $182.000 after Gale and Lux approve the entry of Freedman as a partner (where McLean receives the cash personaly from Freedman) View transaction list Journal entry worksheet < Record the admission of Freedman) Nej Enter dette before recite DAIR May 01, 2023 Garatal Jamal Deal Greut Record entry Clear entry View general jumal
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Principles of Financial Accounting
Authors: Belverd E. Needles, Marian Powers
12th edition
978-1133940562, 1133940560, 978-1285608464, 1285608461, 1133939287, 978-0357693605, 978-1285607047, 128560704X, 978-1133939283
