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Calculate division of net income

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Sandhill Company reported net income of $91,300. The partnership agreement provides for salaries of $23,000 to Miley and $16,100 to Guthrie. They divide the remainder 32% to Miley and 68% to Guthrie.

problem 1: Calculate division of net income.

problem 2: Prepare the closing entry.

Reference no: EM132822508

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