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Blake and Matthew are partners who agree that Blake will receive a $99,100 salary allowance and that any remaining income or loss will be shared
Blake and Matthew are partners who agree that Blake will receive a $99,100 salary allowance and that any remaining income or loss will be shared equally. If Matthews capital account is credited for $3,200 as his share of the net income in a given period, how much net income did the partnership earn in that period?
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