Which will be included in the entry to close income summary

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The partnership agreement of E. Smith and N. Patel states that Smith receives 30% and Patel 70% of partnership income and losses. The partnership's net income is $100,000 and is allocated to the partners when the Income Summary account is closed. Get the instant assignment help. Which will be included in the entry to close the Income Summary account?

Reference no: EM133922169

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