Miley asks your help to divide the net income between the partners and to prepare the closing entry.


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Miley asks your help to divide the net income between the partners and to prepare the closing entry. 1 answer below ยป Frontenac Company reported net income of $75,000. The partnership agreement provides for salaries of $25,000 to Miley and $18,000 to Guthrie. They divide the remainder 40% to Miley and 60% to Guthrie. Miley asks your help to divide the net income between the partners and to prepare the closing entry. Jun 11 2014 04:12 PM

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