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Jason River, Sara Down, and Cam Preti each have a $240,000 capital balance. They share profits and losses as follows:2:2:6 to River, Down, and Pret,
Jason River, Sara Down, and Cam Preti each have a $240,000 capital balance. They share profits and losses as follows:2:2:6 to River, Down, and Pret, respectively. Suppose Preis withdrawing from the business. Requirements 1. Journalize the withdrawal of Preti if the partnership agrees to pay Preti $240,000 cash 2. Journalize the withdrawal of Pret if the partnership agrees to pay Pret $210,000 cash Requirement 1. Journalize the withdrawal of Pret if the partnership agrees to pay Pret $240,000 cash. (Record debts fest, then credits. Select the explanation on the last line of the journal entry table) Date Accounts and Explanation Debit Credit
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