Question
1.Assume the partnership of V & X had a net income of $62,000 for the year and the partners agree to share profit and loss
1.Assume the partnership of V & X had a net income of $62,000 for the year and the partners agree to share profit and loss in the ratio of 4 to 5. Give the journal entry to record the distribution of net income.
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Financial Accounting in an Economic Context
Authors: Jamie Pratt
10th edition
978-1-119-3061, 1119306167, 978-1119444367
