Ard, Ball, and Dole have partnership capital account balances of $400,000 each. Income and losses are shared equally. Dole agrees to sell three-fourths of his ownership interest to Ard for $350,000 and one-fourth to Ball for $125,000. Ard and Ball will use personal assets to purchase Dole's interest. The partnership's entry to record Dole's withdrawal from the partnership would be

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The Answer of Ard, Ball, and Dole have partnership capital account balances of $400,000 each. Income and losses are shared equally. Dole agrees to sell three-fourths of his ownership interest to Ard for $350,000 and one-fourth to Ball for $125,000. Ard and Ball will use personal assets to purchase Dole's interest. The partnership's entry to record Dole's withdrawal from the partnership would be

Ard, Ball, and Dole Have Partnership Capital Account Balances of $400,000