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On January 1, Wu invested cash in an amount equal to the current market value of Fraser's partnership capital. The partners decided that Fraser would
On January 1, Wu invested cash in an amount equal to the current market value of Fraser's partnership capital. The partners decided that Fraser would earn 65 percent of partnership profits because he would manage the business. Wu agreed to accept 35 percent of profits. During the period ended December 31, 2023, the partnership earned $ 339 comma 000. Wu's withdrawals were $ 124 comma 000, and Fraser's withdrawals were $ 184 comma 000
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