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Business, 15.04.2020 17:42 aktersumaiya250

A partnership has the following account balances: Cash, $89,000; Other Assets, $635,000; Liabilities, $349,000; Nixon (50 percent of profits and losses), $175,000; Cleveland (30 percent), $125,000; Pierce (20 percent), $75,000. The company liquidates, and $17,500 becomes available to the partners. Who gets the $17,500? Determine how much of this amount should be distributed to each partner.(Do not round intermediate calculations.)

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A partnership has the following account balances: Cash, $89,000; Other Assets, $635,000; Liabilities...
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