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During the fiscal year ended November 30,2024 , the profit for Sunland Partnership was $77,600. The partners, A. Moore and D. Anderson, share profit and
During the fiscal year ended November 30,2024 , the profit for Sunland Partnership was $77,600. The partners, A. Moore and D. Anderson, share profit and loss in a 3:5 ratio, respectively. (a) Your answer is correct. Calculate the division of profit to each partner. A. Moore D. Anderson $ Prepare the entry to close the Income Summary account. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)
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