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T & U form a partnership with initial investments of $100,000 and $200,000 respectively. Their agreement calls for a salary to T of $40,000 and
T & U form a partnership with initial investments of $100,000 and $200,000 respectively. Their agreement calls for a salary to T of $40,000 and a salary to U for $60,000. Each partner is to receive interest of 10% on their initial investment and they agree the remaining profit or loss is to be divided equally. If the net income for the period is $230,000 show the distribution to each partner:
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