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After Several Years of Business, Abel, Barney, and Cole Are

Question 80

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After several years of business, Abel, Barney, and Cole are liquidating. The following are post-closing account balances. After several years of business, Abel, Barney, and Cole are liquidating. The following are post-closing account balances. Non-cash assets are sold for $270,000. Profits and losses are shared equally. Record the sale of the noncash items. Non-cash assets are sold for $270,000. Profits and losses are shared equally.
Record the sale of the noncash items.

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