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Leigh Meadows and Byron Leef formed a partnership in which the partnership agreement provided for salary allowances of $46,000 and $40,000, respectively. Determine the division
Leigh Meadows and Byron Leef formed a partnership in which the partnership agreement provided for salary allowances of $46,000 and $40,000, respectively.
Determine the division of a $23,000 net loss for the current year, assuming remaining income or losses are shared equally by the two partners. Use the minus sign to indicate any deductions or deficiencies.
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