Question: A partner sold a 2 5 % interest in a partnership for $ 4 0 0 , 0 0 0 cash plus assumption of the

A partner sold a 25% interest in a partnership for $400,000 cash plus assumption of the partner's share of the partnership liabilities. The following additional information relates to the partnership activities:
\table[[Partner's initial cash contribution,$100,000
A partner sold a 25% interest in a partnership for $400,000

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