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Mutt and Jeff divide partnership income and losses solely on the basis of their average capital balances. Mutt had $45,000 invested during all of 2001;
Mutt and Jeff divide partnership income and losses solely on the basis of their average capital balances. Mutt had $45,000 invested during all of 2001; Jeff had S30,000 invested from Jan. 1 to Sept. 30, and he invested another $20,000 orn October 1. If income was $200,000 during 2001, how much should each partner receive
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