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Simonsen, Paulson, and Richardson are partners in a firm with the following capital account balances: Simonsen Paulson Richardson $40,000 180.000 120,000 Paulson is retiring from
Simonsen, Paulson, and Richardson are partners in a firm with the following capital account balances: Simonsen Paulson Richardson $40,000 180.000 120,000 Paulson is retiring from the partnership on December 31, 2017 The profit-and-loss-sharing ratio among Simonsen, Paulson, and Richardson is 1.3.2 In the order given. Paulson is paid $100,000 cash in full compensation for her capital account balance. Which of the following journal entries would the firm record for this transaction
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