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The condensed, adjusted trial balance of the John and Robert Partnership as at December 3 1 , 2 0 2 4 , appears below: JOHN
The condensed, adjusted trial balance of the John and Robert Partnership as at December appears below:
JOHN AND ROBERT PARTNERSHIP
AdJusted Trial Balance
December
Debit
Credit
Current assets
$
Equipment
The partnership agreement stipulates that a division of partnership profit or loss is to be made as follows:
A salary allowance of $ to John and $ to Robert.
The remainder is to be divided equally.
Prepare a schedule that shows the division of profit to each partner. Enter negative amounts using either a negative prepare the closing entries for division of profit and for the drawings accounts at december
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