Sale of partnership interestthe partners in the biz partnership have agreed that partner mandy may sell her $100,000 equity in the partnership tobrittney, for which brittney will pay mandy $85,000. present the partnership’s journal entry to record the sale of mandy'sinterest to brittney on september 30.

Carey company is borrowing $225,000 for one year at 9.5 percent from second intrastate bank. the bank requires a 15 percent compensating balance. the principal refers to funds the firm can effectively utilize (amount borrowed − compensating balance). a. what is the effective rate of interest? (use a 360-day year. input your answer as a percent rounded to 2 decimal places.) b. what would the effective rate be if carey were required to make 12 equal monthly payments to retire the loan?