Partners Gunther and Pertee share profits equally. In the process of ending the business, they sell all
Question:
Partners Gunther and Pertee share profits equally. In the process of ending the business, they sell all of the partnership’s noncash assets. The transactions for the sales follow.
Instructions
Record the transactions in general journal form in your working papers. Use general journal page 275.
Transcribed Image Text:
Date Transactions Sept. 4 The merchandise inventory, which cost $45,000, was sold for $38,000. The office equipment, with a book value of $27,000, was sold for $29,000. 15
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