Essay
Sue and Al form a partnership.Sue invests $20,000 and Al invests $25,000.In the first year the partnership earns $60,000.Sue withdraws $7,500 and Al withdraws $12,000.Each receives a salary of $15,000 and the remainder is divided 60% to Al and 40% to Sue.Prepare a schedule showing the capital accounts for Sue and Al.
Correct Answer:
Verified
Correct Answer:
Verified
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