A partnership is considering possible liquidation because one of the partners (Bell) is personally insolvent. Profits and losses are divided on a 4:3:2:1 basis, respectively. Capital balances at the current time are

Bell, capital	$	88,500
Hardy, capital		80,000
Dennard, capital		19,000
Suddath, capital		95,000

Bells creditors have filed a $36,000 claim against the partnerships assets. The partnership currently holds assets of $450,000 and liabilities of $167,500. If the assets can be sold for $265,000, what is the minimum amount that Bells creditors would receive?

rev: 11_27_2017_QC_CS-110177

Multiple Choice

• $5,500

• $7,300

• $0

• $14,500