Sue and Al form a partnership. Sue invests $20,000 and Al invests $25,000. In the first year, the partnership earns $60,000. Sue withdraws $7,500 and Al withdraws $12,000. Each receives a salary of $15,000 and the remainder is divided 60% to Al and 40% to Sue. Prepare a schedule showing the capital accounts for Sue and Al.

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Sue and Al form a partnership Sue invests 20000 and Al invests 25000 In the first year the partner... View the full answer