The distribution of cash to the partners


10-prior to the distribution of cash to the partners,the accounts of abs company are :cash $ 30,000,ace capital (dr.)$ 10,000,ball,capital (cr.) $15,000 they share income on a 5:3:2 basis.Prepare entries to record - the absorption of ace`s capital deficiency by the other partners

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Accounting Basics: The distribution of cash to the partners
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