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Nabb & Fry Co. reports net income of $26,000. Interest allowances are Nabb $5,500and Fry $5,800, salary allowances are Nabb $14,700and Fry $10,500, and the
Nabb & Fry Co. reports net income of $26,000. Interest allowances are Nabb $5,500and Fry $5,800, salary allowances are Nabb $14,700and Fry $10,500, and the remainder is shared equally. Show the distribution of income.(If an amount reduces the account balance then enter with a negative sign preceding the number e.g. -15,000 or parenthesis e.g. (15,000).)
Division of Net Income
Nabb Fry Total
Salary allowance $? $? $?
Interest allowance $? $? $?
Remaining excess/deficiency $? $? $?
Total division of net income $? $? $?
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