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After the partnership has been operating for several years, the Capital accounts of Bob, Kim,...

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Accounting

After the partnership has been operating for several years, the Capital accounts of Bob, Kim, and Sonia are $25,000, $16,000, and $9,000, respectively. Sonia decides to leave the partnership and is allowed to withdraw $9,000 in cash. Prepare the entry in journal form to record the withdrawal on the partnership books. Liquidation of a Partnership

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