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Withdrawal of a Partner under Various Alternatives The partnership of Ace, Jack, and Spade has been in business for 25 years. On December 31,

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Withdrawal of a Partner under Various Alternatives The partnership of Ace, Jack, and Spade has been in business for 25 years. On December 31, 20X5, Spade decided to retire from the partnership. The partnership balance sheet reported the following capital balances for each partner at December 31, 20X5: Ace, Capital $150,000 Jack, Capital 200,000 Spade, Capital 120,000 The partners allocate partnership income and loss in the ratio 20:30:50. Required

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