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Ahmed, and Mohammed are two partners, the partnership agreements provided that Ahmed received yearly salary...

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Accounting

Ahmed, and Mohammed are two partners, the partnership agreements provided that Ahmed received yearly salary allowance of $7,000. Mohammed received 10% bonus from net income after salary allowance and bonus. The net income for this year is $40,000. The remaining net income divided as 70%, and 30% respectively. Show the allocation (distribution) income schedule.

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