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A partnership begins its first year of operations with the following capital balances: According to the articies of partnetship, all prokits with be assigned as

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A partnership begins its first year of operations with the following capital balances: According to the articies of partnetship, all prokits with be assigned as follows: - The parthers will be atributed interest equal to 10 percent of the caplat balance as of the first day of the year - The remainder will be assigned on a 5:23 basis, respectively. - Each partnet is allowed to withdiaw up to $5,000 per yeat. The net loss for the first year of operations is $20,000, and net income for the subsequent year is $25,000. Each parther withdraws. the makimum amount from the business each peilod. Required: operations: operations

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