The partners in the Biz Partnership have agreed that partner Estella may sell her $111,000 equity in

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The partners in the Biz Partnership have agreed that partner Estella may sell her $111,000 equity in the partnership to Sean, for which Sean will pay Estella $88,800. Present the partnership’s journal entry to record the sale of Estella’s interest to Sean on September 30.

Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...
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Managerial Accounting

ISBN: 978-0073379586

2010 Edition

Authors: John J. Wild, Ken W. Shaw

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