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The partnership of Fehr and Selig reports net income of $30,000. The partners share equally in income and losses. The entry to record the
The partnership of Fehr and Selig reports net income of $30,000. The partners share equally in income and losses. The entry to record the partners' share of net income will include a credit to Fehr, Capital for $15,000 credit to Fehr, Drawings for $15,000 O debit to Selig, Capital for $15,000 credit to Income Summary for $30,000
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Core concepts of accounting information systems
Authors: Jacob M. Rose, Mark G. Simkin, Carolyn Strand Norman
13th edition
978-1-119-0332, 1118742931, 978-1118742938
