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Magdaraog and Mercado are partners in Magdaraog and Mercado Partnership with capital balances of P550,000 and P350,000, respectively; they share income and loss in the

Magdaraog and Mercado are partners in Magdaraog and Mercado Partnership with capital balances of P550,000 and P350,000, respectively; they share income and loss in the ratio 1:3, respectively. The par...

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