Partners smith and jones decide to close their business and share the profits equally. they sell the partnership's non-cash assets. the transactions for the sales are below: 1. the merchandise inventory, which cost $45,000, was sold for $38,000.2. the office equipment, with a book value of $27,000 was sold for $29,000.instructions: record the transactions in a general journal form.
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Partners smith and jones decide to close their business and share the profits equally. they sell the...
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