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Quinn, Mellissa, and Harper are liquidating their partnership. They have no agreement for sharing profits and losses. The ending capital account balances are Quin, $13,000;
Quinn, Mellissa, and Harper are liquidating their partnership. They have no agreement for sharing profits and losses. The ending capital account balances are Quin, $13,000; Mellissa, $13,000; Harper, ($2,000). There is $60,000 in cash to be distributed to the partners. The journal entry to record the distribution should be
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