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The Fig & Olive Co. reports net income of $25,100. Interest allowances are Fig $3,300 and Olive $6,300; partner salary allowances are Fig $19,300 and

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The Fig \& Olive Co. reports net income of $25,100. Interest allowances are Fig $3,300 and Olive $6,300; partner salary allowances are Fig $19,300 and Olive $10,700 and the remainder is shared equally. Indicate the division of net income to each partner. (If an amount reduces the account balance then enter with a negative sign preceding the number eg. 15,000 or parentheses e. (15,000).) Prepare the entry to distribute the net income. (Credit account titles are automatically Indented when the amount is entered. Do not indent manually. List all debit entries before credit entrles.)

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