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Journalize the withdrawal of Cam

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Question - Jack, Sabrina, and Cam each have a 390,000 capital balance. They share profits and losses as follows 2:6:2: to Jack, Sabrina, and Cam, respectively. Suppose Cam is withdrawing from the business.

 Requirements -

1. Journalize the withdrawal of Cam if the partnership agrees to pay 390,000 cash.

2. Journalize the withdrawal of Cam if the partnership agrees to pay 210,000 cash.

Reference no: EM132608550

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