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The partnership of Joe Redman and Jeff Winter earned a net income of $75,000 for the current year. Beginning capital balances were $40,000 for Redman

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The partnership of Joe Redman and Jeff Winter earned a net income of $75,000 for the current year. Beginning capital balances were $40,000 for Redman and $60,000 for Winter. Divide the net income between the two partners in the following independent situations: Part A, B, and C are all separate questions a. No mention of net income distribution in the articles of partnership (equally) b. Salary allowances of $30,000 to Joe and $25,000 to Jeff, balance divided equally

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