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	$	70,000
Hardy, capital		64,000
Dennard, capital		12,000
Suddath, capital		88,000

Bells creditors have filed a $29,000 claim against the partnerships assets. The partnership currently holds assets of $380,000 and liabilities of $146,000. If the assets can be sold for $230,000, what is the minimum amount that Bells creditors would receive?

rev: 11_27_2017_QC_CS-110177

Multiple Choice

• $2,800

• $10,000

• $0

• $1,000