When M purchases N's $10,000 capital interest for $10,000,the ensuing entry on the books of the partnership would contain a debit to Cash for $10,000.

Name: When M purchases N's $10,000 capital interest for $10,000,the ensuing entry on the books of the partnership would contain a debit to Cash for $10,000.
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The entry would not debit Cash, as Cash is being paid out, not received. Instead, the entry would credit Cash and debit the capital account of the partner being bought out.

When M Purchases N's $10,000 Capital Interest for $10,000,the Ensuing