Raul and Bianca are partners.Raul has a capital balance of $50,000 and Bianca has a capital balance of $37,000.Bianca sells half of her ownership interest to Bill for $20,500.Which of the following is TRUE of the journal entry to record this transaction?
A) Bianca, Capital is credited for $18,500 and Raul, Capital is debited for $18,500.
B) Bill, Capital is credited for $20,500 and Raul, Capital is debited for $20,500.
C) Bill, Capital is credited for $18,500 and Bianca, Capital is debited for $18,500.
D) Bianca, Capital is credited for $20,500 and Raul, Capital is debited for $20,500.
Correct Answer:
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