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Prepare Journal Entries,with Account Titles Only and Without Dollar Amounts,for

Question 126

Essay

Prepare journal entries,with account titles only and without dollar amounts,for each of the following DJ Partnership transactions:
1.D and J each contribute cash into the partnership in exchange for capital.
2.D makes a cash withdrawal from the partnership.
3.Partnership net income is allocated to the partners' capital accounts.
4.D's drawing account is closed.

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