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Roper and Walton have partnership capital balances of $480,000 and $360,000, respectively. Walton negotiates to...

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Accounting

Roper and Walton have partnership capital balances of $480,000 and $360,000, respectively. Walton negotiates to sell his entire partnership interest to Molle for $420,000. Roper agrees to accept Molle as a new partner.

The partnership journal entry to record this transaction is:

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