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3. Henry Huggins has invested $800,000 in Southwest Development Company. The firm has recently declared bankruptcy and has $600,000 in unpaid debts. Explain the nature

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3. Henry Huggins has invested $800,000 in Southwest Development Company. The firm has recently declared bankruptcy and has $600,000 in unpaid debts. Explain the nature of payment, if any, by Mr. Huggins in each of the following situations. a. Southwest Development Company is a sole proprietorship owned by Mr. Huggins. b. Southwest Development Company is a 90-10 general partnership of Mr. Huggins and Christina White. c. Southwest Development Company is a limited partnership, with Mr. Huggins serving as the general partner. d. Southwest Development Company is a limited partnership, with Ms. White serving as the general partner. e. Southwest Development Company is a corporation

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