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Z Has Bought B's Interest in the A&B Partnership for a $60,000

Question 105

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Z has bought B's interest in the A&B Partnership for a $60,000 direct payment to B. The capital balances before the sale were $24,000 and $36,000, respectively. The entry to record the purchase of interest in partnership is: Z has bought B's interest in the A&B Partnership for a $60,000 direct payment to B. The capital balances before the sale were $24,000 and $36,000, respectively. The entry to record the purchase of interest in partnership is:

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