Problem

Sale of partnership interest The partners in the Biz Partnership have agreed that partn...

Sale of partnership interest

The partners in the Biz Partnership have agreed that partner Mandy may sell her $100,000 equity in the partnership to Brittney, for which Brittney will pay Mandy $85,000. Present the partnership’s journal entry to record the sale of Mandy’s interest to Brittney on September 30.

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Solutions For Problems in Chapter 19