Gale, McLean, and Lux are partners of Burgers and Brew Company with capital balances as...
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Gale, McLean, and Lux are partners of Burgers and Brew Company with capital balances as follows: Gale, $; McLean, $; and Lux, $ The partners share profit and losses in a :: ratio. McLean decides to withdraw from the partnership. Prepare General Journal entries to record the May withdrawal of McLean from the partnership under each of the following unrelated assumptions: a McLean sells his interest to Freedman for $ after Gale and Lux approve the entry of Freedman as a partner where McLean receives the cash personally from Freedman b McLean gives his interest to a soninlaw, Park. Gale and Lu
Gale, McLean, and Lux are partners of Burgers and Brew Company with capital balances as follows: Gale, $; McLean, $; and Lux, $ The partners share profit and losses in a :: ratio. McLean decides to withdraw from the partnership. Prepare General Journal entries to record the May withdrawal of McLean from the partnership under each of the following unrelated assumptions:
a McLean sells his interest to Freedman for $ after Gale and Lux approve the entry of Freedman as a partner where McLean receives the cash personally from Freedman
b McLean gives his interest to a soninlaw, Park. Gale and Lu
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