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What amount of income is credited to west capital account

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Smith, West, and Krug form a partnership. Smith contributes $180,000, West contributes $150,000, and Krug contributes $270,000. Their partnership agreement calls for a 5% interest allowance on the partner's capital balances with the remaining income or loss to be allocated equally.

Question 1: If the partnership reports income of $174,000 for its first year, what amount of income is credited to West's capital account?

Reference no: EM132519678

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