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1) Scott, Hill and Carter have capital balances of OMR 20,000, OMR 40,000 and OMR 80,000. The partners share profit as 1:1:3. The Partnership had

1) Scott, Hill and Carter have capital balances of OMR 20,000, OMR 40,000 and OMR 80,000. The partners share profit as 1:1:3. The Partnership had net income of OMR 100,000 for the year. Journalize the closing entry to allocate the net income

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