Stolton and Bright are partners in a business they started two years ago. The partnership...
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Accounting
Stolton and Bright are partners in a business they started two years ago. The partnership agreement states that Stolton should receive a salary allowance of $13,800 and that Bright should receive a $20,400 salary allowance. Any remaining income or loss is to be shared equally. Determine each partners share of the current years net income of $58,900. (Enter all allowances as positive values. Enter losses as negative values.)
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