Batool plans to withdraw from BRF Partnership. The recorded balance of Batool's capital account is $60,000. The
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Question:
Batool plans to withdraw from "BRF Partnership". The recorded balance of Batool's capital account is $60,000. The remaining partners, Reem and Arah, agreed to pay Batool cash of $58,000. The partners share income and loss equally.
Required
Prepare the journal entry to record the above withdrawal transaction.
Related Book For
Smith and Roberson Business Law
ISBN: 978-0538473637
15th Edition
Authors: Richard A. Mann, Barry S. Roberts
Posted Date: