Alberts and Bartel Are Partners

question 19

Essay

Alberts and Bartel are partners.On October 1,Alberts' capital balance is $75,000 and Bartel's capital balance is $125,000.With the partnership's approval,Bartel sells one-half of his partnership interest to Camero for $70,000.Prepare the journal entry to record this transaction in the partnership records.

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Definitions:

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Heredity

The hereditary conveyance of physical and mental characteristics from ancestors to descendants.

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