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Kayson and John have a partnership with a net income of $ 3 5 0 , 0 0 0 for the period and have agreed
Kayson and John have a partnership with a net income of $ for the period and have agreed to divide the net income in a ratio of : respectively. Prepare the joumal entry to close Incom Summary to the partners' capital accounts for each partner's share of the net income. Record debits first, then credits. Exclude explanations from journal entries.
Accounts
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