=+b. All of the noncash assets are sold for $85,000 in cash, the creditors are paid, the

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=+b. All of the noncash assets are sold for $85,000 in cash, the creditors are paid, the partner with the debit capital balance pays the amount owed to the firm, and the remaining cash is distributed to the partners.

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Accounting

ISBN: 978-1111001346

23rd Edition

Authors: Carl S. Warren

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