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At the beginning of the year partners Noah and Jona have capital balances in a partnership of $50,000 and $75,000 respectively. They agree to share
At the beginning of the year partners Noah and Jona have capital balances in a partnership of $50,000 and $75,000 respectively. They agree to share profits and losses as follows: NoahJona As salaries$25,000$27,500 As interest on capital at the beginning of the year10%10% Remaining profits or losses50%50% If income for the year was $62,500, what will be the distribution of income to Noah? $28,750. $30,000. $25,000. $17,500.
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