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Partners Bob and Don have agreed to share profits and losses in an 80:20 ratio...

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Accounting

Partners Bob and Don have agreed to share profits and losses in an 80:20 ratio respectively, after Bob is allowed a salary allowance of $140,000 and Don is allowed a salary allowance of $70,000. If the partnership had net income of $140,000 for 2010, Don's share of the income would be

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balances. \table[[,$15,600,Notes payable,$42,000

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