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A partnership has the following account balances: Cash, $74,000; Other Assets, $560,000; Liabilities, $265,000; Nixon (50 percent of profits and losses), $175,000; Cleveland (30 percent),

A partnership has the following account balances: Cash, $74,000; Other Assets, $560,000; Liabilities, $265,000; Nixon (50 percent of profits and losses), $175,000; Cleveland (30 percent), $120,000; Pierce (20 percent), $74,000. The company liquidates, and $15,500 becomes available to the partners. Who gets the $15,500? Determine how much of this amount should be distributed to each partner.(Do not round intermediate calculations.)

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