An existing partner sells one-half of his capital interest to a new partner. What is...
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Accounting
An existing partner sells one-half of his capital interest to a new partner. What is the accounting entry to record this transaction? A.debit the existing partner's capital account for one-half of the balance of that account B. debit cash and credit the new partners' capital account for the cash payment. C. credit the new partners' capital account for the same amount debited to the existing partner's capital account. D. both a and c are correct
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