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Able, Baker, and Carter have partnership capital account balances of $597000 each. Income and losses...

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Accounting

Able, Baker, and Carter have partnership capital account balances of $597000 each. Income and losses are shared equally. Carter agrees to sell three-fourths of his ownership interest to Able for $515000 and one-fourth to Baker for $187700. Able and Baker will use personal assets to purchase Carters interest. The partnership's entry to record Carters withdrawal from the partnership would be

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