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Prepare the December 3 1 journal entry ti close income summary assuming they agree to use plan ( c ) and that net income is

Prepare the December

31

journal entry ti close income summary assuming they agree to use plan

(

)

and that net income is $

471, 000 .

,

,

and Barb withdraw $

36, 400,

50, 400,

and $

66, 400,

respectively, at year

-

end. Also close the withdrawals accounts.

(

Record the entry to close the income summary account asuming the partners agree to use plan c and net income is $

471, 000 .

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