Coburn (beginning eapital, \$62,000) and Webb (beginning cagital \$92,000) are partnen. During 2022. the partnership...
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Coburn (beginning eapital, \$62,000) and Webb (beginning cagital \$92,000) are partnen. During 2022. the partnership earned net income of $73,000, and Coburn made drawings of $16,000 whille Webb madedrawings of $24,000. (a) Your answer is partially correct. Assume the partnership income-sharing agreement calls for incone to be divided 40% to Coburn and 60 . to Webb. Prepare the journal entry to record the allocation of net income. (Credit occount tiles are outomatically indented when amount is entered. Do not indent manuolify)
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