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3. Prior to liquidating their partnership, Craig and Jenny had capital accounts of $74,770 and $122,470, respectively. The partnership assets were sold for $242,830. The

3.

Prior to liquidating their partnership, Craig and Jenny had capital accounts of $74,770 and $122,470, respectively. The partnership assets were sold for $242,830. The partnership had $29,700 of liabilities. Craig and Jenny share income and losses equally.

Determine the amount received by Jenny as a final distribution from liquidation of the partnership. $_____________

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