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Business, 06.11.2019 02:31 erinkiing

The partnership agreement of k. mitch and a. alam reflects differences in service and capital contributions as follows: (1) annual salary allowances of $20,000 to mitch and $40,000 to alam (2) annual interest allowances of 10% of a partner's beginning-year capital balance, and (3) equal share of any remaining balance of income or loss. both partner's beginning-year capital balance was $70,000. net income was $100,000. income allocated to alam is $

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