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How much should be received by Calvin as credit

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Question - AB partnership had a net income of P24,000 for the month ended September 30, 2020, Calvin purchased an interest in the AB partnership of Andres and Beltran by paying Andres for half of his capital and half of his 50% profit sharing interest. At this time, the capital balance of Andres was P96,000 and the capital balance of Beltran was P168,000. How much should be received by Calvin as credit to his Capital account?

Reference no: EM133104673

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