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    Principles of Accounting Study Set 1
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    Exam 12: Accounting for Partnerships
  5. Question
    Partner X Purchases Partner Y's $25,000 Interest from Partner Y
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Partner X Purchases Partner Y's $25,000 Interest from Partner Y

Question 125

Question 125

True/False

Partner X purchases Partner Y's $25,000 interest from Partner Y for $30,000.The entry to record the transaction is for $30,000.

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