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Smith, West, and Krug form a partnership. Smith contributes $189,000, West contributes $157,500, and Krug contributes $283,500. Their partnership agreement calls for the income or loss division to be based on the ratio of capital invested. If the partnership reports income of $170,000 for its first year, what amount of income is credited to Krug's capital account
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Smith, West, and Krug form a partnership. Smith contributes $189,000, West contributes $157,500, and...
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