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X and Y have original investments of $51,928 and $117,173 respectively in a partnership. The articles of partnership include the following provisions regarding the division of net income: interest on original investment at 10%, salary allowances of $26,227 and $30,996 respectively, and the remainder equally. How much of the net income of $102,723 is allocated to X?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M977213

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