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A partnership has the following accounting amounts:
(1) Sales = $70,000(2) Cost of Goods Sold = $40,000(3) Operating Expenses = $10,000(4) Salary allocations to partners = $13,000(5) Interest paid to banks = $2,000(6) Partners' withdrawals = $8,000
Partnership net income (loss) is:
A. $20,000B. $18,000C. $5,000D. $(3,000)
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The following is a list of transactions entered into during the first month of operations of Gardener Corporation, a new landscape service. Prepare in journal form the entry to record each transaction.
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