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Find what amount of interest that should eventually credited

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Reference no: EM132767422

The partnership agreement of S and G provided that interest of 10% per annum is to be credited to each partner on the basis of average capital balances. A summary of G's capital account for the year ended December 31, 2019 follows:

Balance, Jan. 1 - P280,000
Additional investment on July 1 - P80,000
Withdrawal made on August 1 - P30,000

Problem 1: The amount of interest that should eventually be credited to G capital is _____________________.

a. P30,500
b. P33,000
c. P30,750
d. P34,500

Reference no: EM132767422

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