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Prepare the journal entries required to end the partnership

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Reference no: EM132513684

Question - The partners of the Blue Tooth Partnership agree to liquidate. After all liabilities of $100,000 are paid, the capital account balances are: Wong, $80,000; Winslow, $70,000; and Peters, ($4,000). Assume the partners have no agreement for sharing profits and losses. Prepare the journal entries required to end the partnership.

Reference no: EM132513684

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