A cash-method corporation adopts a plan of complete liquidation and distributes the following assets to its shareholders: Accounts receivable of $6717 What gains are recognized by the liquidating corporation on the distributions in complete liquidation?A cash-method corporation adopts a plan of complete liquidation and distributes the following assets to its shareholders: Accounts receivable of $6717 What gains are recognized by the liquidating corporation on the distributions in complete liquidation? Question 5Answer a. $6717 ordinary income b. $6717 capital gain c. $0 d. $3358 ordinary income