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Johann, Josef, and Richard are partners in the Strauss Partnership with the following capital and profit and loss: Johann 25% $28,000 Josef 25% $32,000 Richard

Johann, Josef, and Richard are partners in the Strauss Partnership with the following capital and profit and loss:

Johann 25% $28,000

Josef 25% $32,000

Richard 50% $40,000

Richard retires receiving $60,000 cash from the partnership in full settlement of his partnership interest. What will Johann and Josef

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