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Assume the partnership income-sharing agreement calls for income to be divided with a salary of $30,800to Coburn and $25,200to Webb, with the remainder divided40% to

Assume the partnership income-sharing agreement calls for income to be divided with a salary of $30,800to Coburn and $25,200to Webb, with the remainder divided40% to Coburn and60% to Webb. Prepare the journal entry to record the allocation of net income.

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