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A partnership began its first year of operations with the following capital balances: The Articles of Partnership stipulated that profits and losses be assigned in

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A partnership began its first year of operations with the following capital balances: The Articles of Partnership stipulated that profits and losses be assigned in the following manner: - Young was to be awarded an annual salary of $26,000 and $13,000 salary was to be awarded to Thurman. - Each partner was to be attributed with interest equal to 10% of the capital balance as of the first day of the year. - The remainder was to be assigned on a 5:2:3 basis to Young. Eaton, and Thurman, respectively. - Each partner withdrew $13,000 peryear. Assume that the net loss for the first year of operations was $26,000 with net income of $52,000 in the second year. What was the balance in Eaton's Capital account at the end of the second year? Multiple Choice $84760 Multiple Choice $84,760. $133,380 $105,690 $71760 $132.860

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