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December 31 - The business recorded a net income of $24 000, and Brady had a debit balance of $16 000 in his drawings account.
December 31 - The business recorded a net income of $24 000, and Brady had a debit balance of $16 000 in his drawings account. Show the entry to allocate the net income to the partners' capital accounts. Prepare a Statement of Partners' Equity for 2004
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