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Lopez, Cruz, and Perez are partners and share net income and loss in a 6:4:1 ratio in ratio form: Lopez, 6/11, Cruz, 4/11, and Perez,

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Lopez, Cruz, and Perez are partners and share net income and loss in a 6:4:1 ratio in ratio form: Lopez, 6/11, Cruz, 4/11, and Perez, 111. On December 31, Perez withdraws from the partnership when the equities of the partners are: Lopez, $3,800: Cruz, $2,600; and Perez, $2,000. Prepare journal entries to record Perez's withdrawal under each separate situation: Perez is paid for her equity using partnership cash of (1) $2,000 (2) $2,800; and (3) $1,100. View transaction list Journal entry worksheet 1 2 3 > Record the retirement of Perez assuming that she is paid $2,000 for her equity. Note: Enter debits before credits General Journal Debit Credit Date December 31

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