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A and B decided to liquidate their partnership. The partnership's records show the following information: Cash Non-cash assets 80,000 Total assets 80,000 Liabilities Loan payable
A and B decided to liquidate their partnership. The partnership's records show the following information: Cash Non-cash assets 80,000 Total assets 80,000 Liabilities Loan payable to Partner A Loan payable to Partner B A, capital (80%) B, capital (20%) Total liabilities and equity 15,000 10,000 17,000 20,000 18,000 80,000 The non-cash assets are to be sold in installments and the partners' claims are to be settled as cash becomes available. In the first sale, half of the non-cash assets were sold for P15,000. How much did A receive in the first cash distribution
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