edmariequiles1 edmariequiles1
  • 04-02-2024
  • Business
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Record the entry to close the income summary account assuming the partners have agreed to share income and loss by providing annual salary allowances of $66,000 to Ries, $56,000 to Bax, and $80,000 to Thomas; granting 10% interest on the partners' beginning capital investments; and sharing the remainder equally.

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