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The partnership of Austin and Boston divide income or loss as follows: Austin gets a salary allowance of $16,000, Boston, $4,000. Boston is also allocated

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The partnership of Austin and Boston divide income or loss as follows: Austin gets a salary allowance of $16,000, Boston, $4,000. Boston is also allocated an interest allowance of $2,000. The remaining income, if any, will be divided equally. The net income was $44,000 Use this information to answer the following

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