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Question 2 F:12 Requirements 1. Calculate the amount of income each partner will recelve under their profil-and-loss-sharing agreecrent assuming Palchell's capital balarce is $95,000 and

Question 2 F:12

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Requirements 1. Calculate the amount of income each partner will recelve under their profil-and-loss-sharing agreecrent assuming Palchell's capital balarce is $95,000 and Walters capital balance is $95,000. 2. Journalize the entry to close the Income Summary account for the yeer

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