Question: DE12-16 This exercise uses the data given in Daily Exercise 12-15 with one modification. Assume Henry is retiring from the partnership and agrees to take

DE12-16 This exercise uses the data given in Daily Exercise 12-15 with one modification. Assume Henry is retiring from the partnership and agrees to take cash of $60,500. Journalize the payment of $60,500 to Henry upon his withdrawal from the partnership.

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