Jaime Keller has a $41,000 capital balance in a partnership. She sells her interest to Sam Parmenter

Question:

Jaime Keller has a $41,000 capital balance in a She sells her interest to Sam Parmenter for $45,000 cash. What entry is made by the for this transaction?

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...