After liquidating noncash assets and paying creditors, account balances in the Oriole Co. are Cash $17,800: A Capital (Cr.) 57.800; E. Capital (Cr.) $6,600; and C. Capital (Cr.) $3,600. The partners share income equally. Journalize the final distribution of cash to the partners. (Credit account titles are automatically indented when amount is entered. Do not indent manually)

After liquidating noncash assets and paying creditors, account balances in the Oriole Co. are Cash $17,800: A Capital (Cr.) 57.800; E. Capital (Cr.) $6,600; and C. Capital (Cr.) $3,600. The partners share income equally. Journalize the final distribution of cash to the partners. (Credit account titles are automatically indented when amount is entered. Do not indent manually)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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