Tom and Jerry are partners in the Wipeout Company. Their partnership income sharing agreement calls...
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Accounting
Tom and Jerry are partners in the Wipeout Company. Their partnership income sharing agreement calls for Tom and Jerry to receive salary allowances of $24,000 and $18,500, respectively. Any remaining income or loss is to be divided equally. If the company's income was $96,500, Jerry's share would be?
$18,500
$18,000
$45,500
$36,500
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