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A four-person partnership has the following: Partner L invests $51,000, Partner M $20,000, and Partner M $15,000 and Partner O invests $14,000. If the
A four-person partnership has the following: Partner L invests $51,000, Partner M $20,000, and Partner M $15,000 and Partner O invests $14,000. If the LMNO Partnership has $100,000 of net profit for the year, there is no written partnership agreement, and the partnership distributes all of the net profit to the partners, then under state partnership law, Partner L would receive:
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College Accounting A Contemporary Approach
Authors: David Haddock, John Price, Michael Farina
3rd edition
77639731, 978-0077639730
