Lector, Wylo, and Stuart are partners with capital balances of $25,000, $40,000, and $35,000…

Lector, Wylo, and Stuart are partners with capital balances of $25,000, $40,000, and $35,000 respectively. They share income and losses equally. Stuart is retiring and has agreed to accept $35,000 cash for his share of the partnership. Record Stuart’s withdrawal on November 23, 2014.View Solution:
Lector Wylo and Stuart are partners with capital balances of

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