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Raleigh and Richmond are partners who share income equally. They have decided to let Pittsburgh join their partnership. Before admitting Pittsburgh, Raleigh had a capital
Raleigh and Richmond are partners who share income equally. They have decided to let Pittsburgh join their partnership. Before admitting Pittsburgh, Raleigh had a capital balance of $ and Richmond had a capital balance of $ Pittsburgh makes a $ cash payment to the partnership and is given a interest. Immediately after admitting Pittsburgh to the partnership, the balance in Raleigh's capital account would be:
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