Solution-Record the division of net income

Record the division of net income

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Reference no: EM13512506

Andrea Gant and Mark Waller share net income and net loss equally. (a) Which account(s) is (are) debited and credited to record the division of net income between the partners? (b) If Andrea Gant withdraws $30,000 in cash for personal use in lieu of salary, which account is debited and which is credited?

Reference no: EM13512506

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Record the division of net income

Reference no: EM13512506

Reference no: EM13512506

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