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Business, 27.09.2019 03:10 sdoty7702

Lopez, cruz, and perez are partners and share net income and loss in a 6: 4: 1 ratio. on december 31, perez withdraws from the partnership when the equities of the partners are: lopez, $3,000; cruz, $1,800; and perez, $1,200. prepare journal entries to record perez’s withdrawal under each of the following separate situations: perez is paid for her equity using partnership cash of (1) $1,200; (2) $1,600; and (3) $700.

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Lopez, cruz, and perez are partners and share net income and loss in a 6: 4: 1 ratio. on december 31...
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