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please helpppppp Blossom Company wishes to liquidate the firm by distributing the companys cash to the three partners. Prior to the distribution of Cash, the
please helpppppp
Blossom Company wishes to liquidate the firm by distributing the companys cash to the three partners. Prior to the distribution of Cash, the company's balances are Cash \$69,900; Oakley, Capital (Cr) \$49,900, Quaney, Capital (Dr) \$22,260, and Ellis, Capital (Cr) $42,260, The income ratios of the three partners are 2:4:4, respectively. Prepare the entry to record the absorption of Quanev's capital deficiency by the other partners and the distribution of cash to the partners with credit balances. (Credit eccount titles are automotically indented when anount is entered. Do not indent manuallw) Step by Step Solution
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