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Diving partnership Net Loss Leigh meadows and bryon leef formed a partnership in which the partnership provided for salary allowances of $47,000 and $41,000 respectively.
Diving partnership Net Loss
Leigh meadows and bryon leef formed a partnership in which the partnership provided for salary allowances of $47,000 and $41,000 respectively. Determine the division of a $24,000 net loss for the current year assuming remaining income or losses are shared equally by the two partners. Use the minus sign to indicate any deductions or deficiencies.
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