Question: BE12-12 Data for DEB Co. are presented in BE12-11. Instead of a payment from personal assets, assume that Boyd receives $24,000 from partnership assets

BE12-12 Data for DEB Co. are presented in BE12-11. Instead of a payment from personal assets, assume that Boyd receives $24,000 from partnership assets in withdrawing from the partnership. (a) Journalize the withdrawal of Boyd on December 31. (b) What would the journal entry be if Boyd received $16,000 cash instead of $24,000?

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