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Prepare the journal entry if the bonus method is used

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problem 1: Chico and Dino share net income and losses in a 7:3 ratio and have capital balances of $35,000 and $30,000 respectively. Filo invests $25,000 for a one third interest in the partnership. Prepare the journal entry if the bonus method is used.

Reference no: EM132785481

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