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Business, 18.08.2019 03:10 TerrieRichard8405

The partnership decided to terminate the entity and sold everything for cash on 01/01/2011. accounts receivable was sold for $5,000 and land was sold for $25,000. ppe was sold for 5,000 and inventory was sold for 7,000. liquidation fee (paid to liquidator) was 5,000. assuming that after liquidation starts, any partner with negative capital balance will contribute cash to bring the balance to 0, calculate how much each partner is entitled to after terminating the partnership. (6 points)

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