FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Under the following four independent assumptions, prepare the journal entries for the sale of the land and buildings, allocation of any loss or gain,any deficits, the payment of the liability, and the distributions to the partners if:
A) the land and buildings were sold for 180,000, and any partners with a resulting deficits can and do pay the amount of their deficits 
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