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The MBJ partnership agreement specifies that partnership net income be allocated as follows: Partner M Partner B Partner J Salary allowance $ 4 0 ,
The MBJ partnership agreement specifies that partnership net income be allocated as follows:
Partner M Partner B Partner J
Salary allowance $ $ $
Interest on average capital balance
Remainder
Average capital balances for the current year were $ for M $ for B and $ for J
Assuming a current year net income of $ what amount should be allocated to each partner? points
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