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Masters, Hardy, and Rowen are dissolving their partnership. Their partnership agreement allocates income and losses equally among the partners. The current period's ending capital account
Masters, Hardy, and Rowen are dissolving their partnership. Their partnership agreement allocates income and losses equally among the partners. The current period's ending capital account balances are Masters, $; Hardy, $; Rowen, $ All the assets are sold and liabilities are paid, which resulted in a loss of $ After the sale, only $ in partnership cash remained. The general journal entry to record the final distribution would be:
Masters, Hardy, and Rowen are dissolving their partnership. Their partnership agreement allocates income and losses equally among the partners. The current period's ending capital account balances are Masters, $; Hardy, $; Rowen, $ All the assets are sold and liabilities are paid, which resulted in a loss of $ After the sale, only $ in partnership cash remained. The general journal entry to record the final distribution would be:
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