Prepare journal entries for (a) the sale of inventory, (b) the allocation or...
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Accounting
Prepare journal entries for
(a)
the sale of inventory,
(b)
the allocation or its gaying of liabilities at book value, and
(d)
the distribution of cash in each of the following separate cases: Inventory is sold for (1)
$600,000
; (2)
$500,000
; (3)
$320,000
and partners with deficits pay their deficits in cash; and (4)
$250,000
and partners with deficits do not pay their deficits. (Round to the nearest dollar.)
Prepare journal entries for (a) the sale of inventory, (b) the allocation of of liabilities at book value, and (d) the distribution of cash in each of the following separate cases: Inven tory is sold for (1) $600,000; (2) $500,000; (3) $320,000 and partners with deficits pay their deficits i cash; and (4) $250,000 and partners with deficits do not pay their deficits. (Round to the nearest dollar., Prepare journal entries for (a) the sale of inventory, (b) the allocation of of liabilities at book value, and (d) the distribution of cash in each of the following separate cases: Inven tory is sold for (1) $600,000; (2) $500,000; (3) $320,000 and partners with deficits pay their deficits i cash; and (4) $250,000 and partners with deficits do not pay their deficits. (Round to the nearest dollar
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