Question
Deng and Dang are 3:2 revenue sharing partners. Their principal balances are $48,122 and $62,776 respectively. The Income Summary has a credit balance of $44,798.
Deng and Dang are 3:2 revenue sharing partners. Their principal balances are $48,122 and $62,776 respectively. The Income Summary has a credit balance of $44,798. What is Deng's principal balance after closing the Principal Income Summary?
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College Accounting
Authors: Heintz and Parry
20th Edition
1285892070, 538489669, 9781111790301, 978-1285892078, 9780538489669, 1111790302, 978-0538745192
