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M elston and r ogle have partnership capital balances of

M. Elston and R. Ogle have partnership capital balances of $40,000 and $80,000, respectively. The partnership agreement indicates that net income or net loss should be shared equally. If net income for the partnership is $42,000, how should the net income be divided?

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Accounting Basics: M elston and r ogle have partnership capital balances of

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