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Alfred Hurley and Thomas Estes are partners who share profits and losses in the ratio of 70 to 30 percent, respectively Their partnership agreement provides

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Alfred Hurley and Thomas Estes are partners who share profits and losses in the ratio of 70 to 30 percent, respectively Their partnership agreement provides that each will be paid a yearly salary of $85,000. The salaries were paid to the partners during 2019 and were charged to the partners' drawing accounts. The Income Summary account has a credit balance of $331800 after revenue and expense accounts are closed at the end of the year What amount of net income or net loss will be allocated to each? Alfred Hurley Balance of I Balance of Income a Prey 3 of 10 Net >

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