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    Fundamental Accounting Principles Study Set 3
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    Exam 12: Partnerships
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    Armstrong Withdraws from the JT Partnership
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Armstrong Withdraws from the JT Partnership

Question 55

Question 55

Essay

Armstrong withdraws from the JT Partnership.At this time her capital account is $35,000.The remaining partners agree to pay her $35,000 for her interest.Prepare the journal entry to record the withdrawal.

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