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Problem 11-7A Withdrawal of a partner LO4 Gale. McLean, and Lux are partners of Burgers and Brew Company with capital balances as follows: Gale,
Problem 11-7A Withdrawal of a partner LO4 Gale. McLean, and Lux are partners of Burgers and Brew Company with capital balances as follows: Gale, $96,000; McLean, $93,000, and Lux, $159,000. The partners share profit and losses in a 3.2.5 ratio. McLean decides to withdraw from the partnership. Prepare General Journal entries to record the May 1, 2020, withdrawal of McLean from the partnership under each of the following unrelated assumptions: a. McLean sells his interest to Freedman for $180,000 after Gale and Lux approve the entry of Freedman as a partner (where McLean receives the cash personally from Freedman). View transaction list Journal entry worksheet < 1 Record the admission of Freedman. Note: Enter debits before credits. Date May 01, 2020 General Journal Debit Credit Help
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