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Method 1 Method 2 i Partner's Drawings account is closed off to: Patner's capital account Partner's retained earnings account ii Distribution of profit and loss:

Method 1 Method 2 i Partner's Drawings account is closed off to: Patner's capital account Partner's retained earnings account ii Distribution of profit and loss: Patner's capital account Partner's retained earnings account iii Parner contribution of assets: Patner's capital account Partner's retained earnings account iv Profit and loss summary account is closed off to: Profit distribution account Profit distribution account

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