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What payment is recorded with a debit in the partnership

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Reference no: EM132744869

Problem 1: If a partner with a loan receivable from a partnership, receives cash during such liquidation, the payment is recorded with a debit in the partnership books to:

a. Loan Receivable from Mr.- X

b. Mr. X, Capital

c. Mr. X, Drawing

d. Loan Payable to Mr. X

Reference no: EM132744869

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