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  3. held bond co. reports net income of $70,000. the i

Held Bond Co. reports net income of $70,000. The income ratios are Held 60% and...

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Accounting

Held Bond Co. reports net income of $70,000. The income ratios are Held 60% and Bond 40%. Indicate the division of net income to each partner, and prepare the entry to distribute the net income

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