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Jared, Samantha, and Cole each have a $430,000 capital balance. They share profits and losses as follows: 2.6.2 to Jared, Samantha, and Cole, respectively.
Jared, Samantha, and Cole each have a $430,000 capital balance. They share profits and losses as follows: 2.6.2 to Jared, Samantha, and Cole, respectively. Suppose Cole is withdrawing from the business. Requirements 1. Journalize the withdrawal of Cole if the partnership agrees to pay Cole $430,000 cash. 2. Journalize the withdrawal of Cole if the partnership agrees to pay Cole $220,000 cash. Requirement 1. Journalize the withdrawal of Cole if the partnership agrees to pay Cole $430,000 cash. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation "Debit Credit
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