(SOLVED) Jason River Sara Down and Cam Preti each have a


Question Description:

$19

Jason River, Sara Down, and Cam Preti each have a $240,000 capital balance. They share profits and losses as follows: 2:2:6 to River, Down, and Preti, respectively. Suppose Preti is withdrawing from the business.
Requirements
1. Journalize the withdrawal of Preti if the partnership agrees to pay Preti $240,000 cash.
2. Journalize the withdrawal of Preti if the partnership agrees to pay Preti $210,000 cash.

Answer

$19