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Take me to the text Patricia, Karla, and Nathan operate a small law firm under a limited liability partnership. However, due to some internal
Take me to the text Patricia, Karla, and Nathan operate a small law firm under a limited liability partnership. However, due to some internal conflicts all the partners have agreed to end the partnership. The following items remained in the balance sheet on October 20, 2020 after all the assets have been liquidated. The net asset amount is also given in the table below. Net Assets Cash $480,000 $460,200 Karla, Capital $83,000 Nathan, Capital $217,000 Patricia, Capital $180,000 Prepare the journal entries to allocate any gain or loss due to the sale of assets, and to record cash distribution. Gains or losses are allocated equally among the partners. Do not enter dollar signs or commas in the input boxes. Enter the debit accounts in alphabetical order
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