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Assume the partnership income-sharing agreement calls for income to be divided with a salary of $34,000to Coburn and $25,000to Webb, with the remainder divided35% to

Assume the partnership income-sharing agreement calls for income to be divided with a salary of $34,000to Coburn and $25,000to Webb, with the remainder divided35% to Coburn and65% to Webb. Prepare the journal entry to record the allocation of net income.(Credit account titles are automatically indented when amount is entered. Do not indent manually.)

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