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Question 9 (11 points) Lewis and Clark operate a partnership. They share profit and losses in a ratio of 6.4 respectively. On December 31,

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Question 9 (11 points) Lewis and Clark operate a partnership. They share profit and losses in a ratio of 6.4 respectively. On December 31, the records show the following account balances: Accumulated Accounts Lewis Clark, Cash Equipment depreciation, $30,000 $85,000 payable capital capital Equipment $55,000 $25,000 $30,000 $5,000 Required: Prepare the journal entries to record the liquidation of the partnership assuming the equipment is sold for $5,000 on December 31. Any deficiencies are paid by the partners with the deficiencies. Paragraph B IUA GENERAL JOURNAL

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