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What entry is required by the partnership if the sales price

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1.Lia Wu and Becca Sims are partners who share in the income equally and have capital balances of $150,000 and $62,500, respectively. Wu, with the consent of Sims, sells onethird of her interest to Kara Oliver. What entry is required by the partnership if the sales price is: 

(a) $40,000? 

(b) $60,000?  

Reference no: EM131125807

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