Able, Baker, and Carter have partnership capital account balances of $597000 each. Income and losses are shared

Fantastic news! We've Found the answer you've been seeking!

Question:

Able, Baker, and Carter have partnership capital account balances of $597000 each. Income and losses are shared equally. Carter agrees to sell three-fourths of his ownership interest to Able for $515000 and one-fourth to Baker for $187700. Able and Baker will use personal assets to purchase Carter’s interest. The partnership's entry to record Carter’s withdrawal from the partnership would be

Garret, $434850; Josh, $90050.

Garret, $425460; Josh, $99440.

Garret, $450500; Josh, $105700.

**Garret, $475540; Josh, $111960.