liquidated gradually over several months beginning January 1, 2018. The partnership trial balance as of December 31, 20 is as follows: Debits P 3,000 10,000 25,000 4,000 15,000 18,000 10,000 Credits Cash Accounts receivable Inventory Loan to B Furniture Equipment Goodwill Accounts payable Note payable Loan from C A, capital (30%) B, capital (20%) P12,000 30,000 6,000 12,000 9,000 C canital (35%) 12.000

liquidated gradually over several months beginning January 1, 2018. The partnership trial balance as of December 31, 20 is as follows: Debits P 3,000 10,000 25,000 4,000 15,000 18,000 10,000 Credits Cash Accounts receivable Inventory Loan to B Furniture Equipment Goodwill Accounts payable Note payable Loan from C A, capital (30%) B, capital (20%) P12,000 30,000 6,000 12,000 9,000 C canital (35%) 12.000

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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