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Irene and Jim Own an Unincorporated Bakery

question 79

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Irene and Jim own an unincorporated bakery.They determine their salaries at the end of the year by using the amount required to reduce the net income of the bakery to $0.Based on this policy,Irene and Jim each receive a total salary of $250,000.This is paid as follows: $10,000 per month and $130,000 on December 31.Determine the amount of the salary deduction.


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