Taylor, Ullman & Victor Limited Liability Partnership, whose partners share net income or loss equally, is in liquidation. Partner Taylor, whose capital account had a debit balance of $3,000, paid a $4,000 trade account payable of the partnership. The appropriate journal entry (explanation omitted) for the partnership is:

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The Answer of Taylor, Ullman & Victor Limited Liability Partnership, whose partners share net income or loss equally, is in liquidation. Partner Taylor, whose capital account had a debit balance of $3,000, paid a $4,000 trade account payable of the partnership. The appropriate journal entry (explanation omitted) for the partnership is:

Taylor, Ullman & Victor Limited Liability Partnership, Whose Partners Share