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In the final settlement, what is the amount due to Dwight? Dwight, Chris, and Paul formed a joint operation in 2011 to sell particular merchandise.

In the final settlement, what is the amount due to Dwight?

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Dwight, Chris, and Paul formed a joint operation in 2011 to sell particular merchandise. Dwight is designated as the manager of the joint operation. The joint operators agreed to divide profits and losses equally. The joint operation is terminated on December 31, 2012 even though there is still unsold merchandise. On this date, Dwight's trial balance shows the following account balances before profit or loss distribution: Debit Credit Joint operation cash P 30,000 Investment in Joint Operation 6,000 Chris, capital 14,000 Paul, capital P 16,000 Dwight receives P4,500 for his share in the joint operation profit. Furthermore, he agrees to be charged for the unsold merchandise as of December 31, 2012

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