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Partners Cantor and Dickens have capital balances in a partnership of $168000 and $234000, respectively. They agree to share profits and losses as follows: Cantor
Partners Cantor and Dickens have capital balances in a partnership of $168000 and $234000, respectively. They agree to share profits and losses as follows: Cantor Dickens As salaries $40500 $48900 As interest on capital at the beginning 10% 10% of the year Remaining profits or losses 50% 50% If net loss for the year was $7600, what will be the allocation to Dickens? O $47800 income $3900 loss $7600 loss O $3700 income
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