Problem 11-7A Withdrawal of a partner LO4 Gale, McLean, and Lux are partners of Burgers and...

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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, $85,000; McLean, $71,000; and Lux, $148,000. 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 $169,000 after Gale and Lux approve the entry of Freedman as a partner (where McLean receives the cash personally from Freedman). 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, $85,000; McLean, $71,000; and Lux, $148,000. 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 $169,000 after Gale and Lux approve the entry of Freedman as a partner (where McLean receives the cash personally from Freedman).