"Friends and the local paper are always a good source of information."
"Friends and the local paper are always good sources of information."?
Which one is correct? or both correct?
"... good sources of information" is correct. However, you will hear the first if for some reason the speaker is counting "friends and the local paper" as one single thing. That is unlikely, though, so the plural is better.
Remember - correct capitalisation, punctuation and spacing make posts much easier to read.