The partners in the Magesty Partnership have agreed that partner Prince may sell his $140,000 equity in the partnership to Queen, for which Queen will pay Prince $110,000. Present the partnership’s...

The partners in the Magesty Partnership have agreed that partner Prince may sell his $140,000 equity in the partnership to Queen, for which Queen will pay Prince $110,000. Present the partnership’s journal entry to record the sale on April 30.View Solution:

The partners in the Magesty Partnership have agreed that partner