L and M are in partnership, sharing profits and losses in the ratio of 3 : 2. They have the following current account balances.
The balances at 31 March 2024 are after taking into account the following:
What was the residual profit to be shared between L and M for the year ended 31 March 2024?
1 )
＄24 000
2 )
＄27 000
3 )
＄29 000
＄32 000
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