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Question: the jackson amp mack partnership have the following balances on...

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onclee Problem 5: The Jackson & Mack Partnership have the following balances on 12/31/16 Jackson & Mack Balance Sheet 12/31/16 Liabilities $84,000 Accounts Payable 48.000 Non-Cash Assets $104,000 Partners Equity 50,000 Jackson, Capital 18,000 Mack, Capital Total Equity Total Liabilities Equity $152,000 $152,000 Total Assets Jackson and Mack share profits 1:1 respectively. Jackson and Mack decide to liquidate the partnership. Journalize the sale so the non-cash assets for the payment of the liabilities, and the payment to the partners. Mack contributes cash equal to the capital ount
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