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II. Partnership (15%) Problem 2 Alfa and Omega Co. reported a net profit of $ 25,000. The interest allowance is Alfa $ 2,400 and Omega
II. Partnership (15%)
Problem 2
Alfa and Omega Co. reported a net profit of $ 25,000. The interest allowance is Alfa $ 2,400 and Omega $ 2,600. Partner salary benefits are Alfa $ 12,000 and Omega $ 13,000, and the balance is shared equally.
Requested:
Show the net profit distribution for each partner and keep a journal to distribute the net profit!
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