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Leigh Meadows and Luke Kowalski formed a partnership in which thepartnership agreementprovided for salary allowances of $35,000 and $25,000, respectively. Determine the division of a
Leigh Meadows and Luke Kowalski formed a partnership in which thepartnership agreementprovided for salary allowances of $35,000 and $25,000, respectively.
Determine the division of a $30,000 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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