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Which account is debited and which is credited

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S. McMurray and F. Kohl 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 S. McMurray withdraws $30,000 in cash for personal use in lieu of salary, which account is debited and which is credited? 

Reference no: EM131131188

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