Jane and Jill began a partnership running a health food shop on 1 January when they contributed
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Jane and Jill began a partnership running a health food shop on 1 January when they contributed £3,000 and £2,000 respectively. Their partnership agreement stated that interest on capital of 10% per year should be given and that the profit-sharing ratio would be in the same ratio as their capital contributions. In their first year of trading to
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