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Partners Sheldon and Penny have agreed to share profits and losses in an 70:30 ratio respectively, after Sheldon is allowed a salary allowance of $20,000

Partners Sheldon and Penny have agreed to share profits and losses in an 70:30 ratio respectively, after Sheldon is allowed a salary allowance of $20,000 and Penny is allowed a salary allowance of $25,000. If the partnership had net income of $44,769 for 2020, Pennys share of the income would be

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