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Business, 11.09.2019 03:20 interndon

In the lmn partnership, lynn's capital is $60,000, marty's is $80,000, and nancy's is $70,000. they share income in a 4: 3: 3 ratio, respectively. nancy is retiring from the partnership. each of the following questions is independent of the others.
41. refer to the information above. nancy is paid $84,000, and no goodwill is recorded. in the journal entry to record nancy's withdrawal
a. lynn, capital will be debited for $7,000
b. marty, capital will be debited for $6,000
c. nancy, capital will be credited for $70,000
d. cash will be debited for $84,000

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In the lmn partnership, lynn's capital is $60,000, marty's is $80,000, and nancy's is $70,000. they...
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