Ronald,Ross and Carol opened a partnership firm.Ronald has a capital of $73,000;Ross has a capital of $117,000;and Carol has a capital of $93,000.Ronald decided to withdraw from the partnership and received $84,000.Which of the following will be included in the journal entry to record this? (Assume an equal profit-loss sharing between the existing partners. )
A)Ross,capital is credited for $5500.
B)Carol,capital is debited for $5500.
C)Ross,capital is debited for $11,000.
D)Cash is credited for $11,000.

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The Answer of Ronald,Ross and Carol opened a partnership firm.Ronald has a capital of $73,000;Ross has a capital of $117,000;and Carol has a capital of $93,000.Ronald decided to withdraw from the partnership and received $84,000.Which of the following will be included in the journal entry to record this? (Assume an equal profit-loss sharing between the existing partners. )
A)Ross,capital is credited for $5500.
B)Carol,capital is debited for $5500.
C)Ross,capital is debited for $11,000.
D)Cash is credited for $11,000.

Ronald,Ross and Carol Opened a Partnership Firm