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Mathematics, 23.04.2021 16:50 ajbrock1004

L&J Interests is a partnership with two equal partners, Linda and Joanne. The partnership has income for the year of $75,000 before guaranteed payments. Guaranteed payments of $45,000 are paid to Linda during the year. Calculate the amount of income that should be reported by Linda and Joanne from the partnership for the year.

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L&J Interests is a partnership with two equal partners, Linda and Joanne. The partnership has in...
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