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How much should each partner receive

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Problem - Profit Distribution - Ables and Galang divide partnership profit and losses solely on the basis of their average capital balances. Ables had P275,000 invested during all of 2019; Galang had P200,000 invested from January 1 to August 31, and he invested another P75,000 on September 1. If profit was P800,000 during 2019, how much should each partner receive?

Reference no: EM132943629

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