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Keith and Jim formed a partnership, with the partners sharing profts and losses equaly The partnership incurs a net loss ot $5,000 for the year

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Keith and Jim formed a partnership, with the partners sharing profts and losses equaly The partnership incurs a net loss ot $5,000 for the year The entry to close the net loss will D A debit Income Summary for $5,000 B decrease Keith. Capital by $2,500 C increase Jinn. Capital by S2.500 D docronse Jurn, Capital by $5.000

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