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The partners in the Biz Partnership have agreed that partner Mandy may sell her $83,000 equity in the partnership to Brittney, for which Brittney will
The partners in the Biz Partnership have agreed that partner Mandy may sell her $83,000 equity in the partnership to Brittney, for which Brittney will pay Mandy $66,400. Prepare the partnerships journal entry to record the sale of Mandys interest to Brittney on September 30. Record the admission of Brittney as a partner who will pay Mandy $66,400 for her share of equity of $83,000.
Note: Enter debits before credits.
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