What are the allocations


Problem: According to the partnership agreement, Luz will earn a salary of $25,000 and Thomas will earn a salary of $20,000 as part of the profit allocations. After they are paid, the remainder will be allocated at a 2:1 ratio, respectively. The company records a $90,000 profit. What are the allocations? O Luz, $60,000: Thomas, $30,000 Luz, $50,000: Thomas, $40,000 O Luz, $45,000: Thomas, $45,000 O Luz, $55,000: Thomas, $35,000

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Accounting Basics: What are the allocations
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