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Purkerson, Smith, and Traynor have operated a bookstore for a number of years as a partnership. At the beginning of 2018, capital balances were as

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Purkerson, Smith, and Traynor have operated a bookstore for a number of years as a partnership. At the beginning of 2018, capital balances were as follows Purkerson Smith Traynor $98,000 78,000 20,000 Due to a cash shortage, Purkerson invests an additional $10,000 in the business on April 1, 2018 Each partner is allowed to withdraw $800 cash each month. The partners have used the same method of allocating profits and losses since the business's inception: . Each partner is given the following compensation allowance for work done in the business: Purkerson, $10,000; Smith, $20,000 . Each partner is credited with interest equal to 20 percent of the average monthly capital balance for the year without regard for Any remaining profit or loss is allocated 5:3:2 to Purkerson, Smith, and Traynor, respectively. The net income for 2018 is $20,000 and Traynor, $6,000 normal drawings. Each partner withdraws the allotted amount each month. What are the ending capital balances for 2018? Ending Capital Balances Purkersorn Smith Traynor Totals

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