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Your answer is partially correct. Assume the partnership income-sharing agreement calls for income to be divided with a salary of $38,000 to Coburn and $33,000

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Your answer is partially correct. Assume the partnership income-sharing agreement calls for income to be divided with a salary of $38,000 to Coburn and $33,000 to Webb, interest of 11% on beginning capital, and the remainder divided 50%-50%. Prepare the journal entry to record the allocation of net income. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Income Summary 68000 Coburn Capital Webb, Capital eTextbook and Media Save for Later Attempts: 1 of 3 used Submit Answer Show Attempt History Current Attempt in Progress Coburn (beginning capital, $59.000) and Webb (beginning capital $95.000) are partners. During 2022. the partnership earned et Income of $68,000, and Coburn made drawings of $17.000 while Webb made drawings of $25.000

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