Explain how the partnership accounts for the sale by a partner of a portion of his partnership

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Explain how the partnership accounts for the sale by a partner of a portion of his partnership interest to another individual.
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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College Accounting Chapters 1-30

ISBN: 978-0077862398

14th edition

Authors: John Price, M. David Haddock, Michael Farina

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