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When Nour withdrew from Jude, Dima, Hadi, and Nour, LLP, she was paid $80,000, although her capital account balance was only $60,000. The four partners
When Nour withdrew from Jude, Dima, Hadi, and Nour, LLP, she was paid $80,000, although her capital account balance was only $60,000. The four partners shared net income and losses equally. The journal entry to record the effect on Jude's capital due to Nour's withdrawal would include:
A. $6,667 credited to Jude capital B. $6,667 debited to Jude capital C. $5,000 debited to Jude capital D. $5,000 credited to Jude capital
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