1. On July 20,2015 , Chloe, Lucifer and Amenadiel from a partnership investing cash of 105,000; 94,500 and 29,400, respectively. The partners share profits 3:2:2 and on October 30, 2015, they have cash of 7,000; other assets of 322,500; and liabilities of 179,200. On this date , they decided to go out of business and sell all the assets for 210,000. Amenadiel has personal assets of 10,500 that may , if necessary, be used to meet partnership obligations. What is the amount received by partner Lucifer at the end of liquidation?

2. On January 1, 2015, Globe Company sold for 17,500 a camera which had a cost of 11,375. The company received a down payment of 1,875 with the provision that additional payments of 1,562.50 be made monthly thereafter. Interest was to be charged at a monthly rate of 2% on the unpaid balance of the principal. After completing four months of installment, the customer defaulted, and the camera was repossessed. At this time, the net realizable of the camera (used) was computed at 4,687.50. Compute the loss on repossession.