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Ronald, Ross, and Carol opened a partnership firm. Ronald has a capital of $77,000; Ross has a capital of $119,000; and Carol has a capital

Ronald, Ross, and Carol opened a partnership firm. Ronald has a capital of $77,000; Ross has a capital of $119,000; and Carol has a capital of $91,000. Ronald decided to withdraw from the partnership and received $86,000. Prepare the required journal entry for the transaction. (Assume an equal profit-loss sharing between the existing partners.)

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