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Accounts (Principles of Accounts) · Partnership accounts

Accounts (Principles of Accounts)Partnership accountsJAMB

Ada and Bola are partners sharing profits and losses in the ratio 3:2. For the year, net profit was ₦250,000. Interest on capital: Ada ₦10,000, Bola ₦6,000. Bola is entitled to a salary of ₦24,000.

What is the residual profit shared in the profit ratio?

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