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  • Aug 10, 2004, 06:19 PM
    ASF
    LLC distribution
    There is a Limited Liability Company in which its partners receive a monthly salary if the funds are available. If the company received a large sum of money and the partners decided to take a distribution from the company according to their ownership percentage, what account should be debited? Should it be an income statement account or balance sheet account and what should it be called?

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