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Blondebombshell Blondebombshell
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5 years ago
Raul and Bianca are partners. Raul has a capital balance of $50,000 and Bianca has a capital balance of $37,000. Bianca sells half of her ownership interest to Bill for $20,500. Which of the following is true of the journal entry to record this transaction?
A) Bianca, Capital is credited for $20,500 and Raul, Capital is debited for $18,500.
B) Bill, Capital is credited for $18,500 and Raul, Capital is debited for $20,500.
C) Bill, Capital is credited for $18,500 and Bianca, Capital is debited for $18,500.
D) Bianca, Capital is credited for $20,500 and Raul, Capital is debited for $20,500.
Textbook 
Horngren's Accounting

Horngren's Accounting


Edition: 11th
Authors:
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husnehusne
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5 years ago
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