LEM 12. X, Y and Z are partners with average capital balances during 2020 of P120,000, P60,000 and P40,000 respectively. Partners receive 10% interest on their average capital balances. After deducting salaries of P30,000 to X and P20,000 to Y, the residual profit or loss is divided equally. In 2020, the partnership sustained a net loss of P33,000 before interest and salaries to partne

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