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 Hardy, capital Dennard, capital Suddath, capital 57,500 59,000 14,000 83,000 Bell's creditors have filed a $24,000 claim against the partnership's assets. The partnership currently holds assets of $330,000 and liabilities of $116,500 lf the assets can be sold for $205,000, what is the minimum amount that Bell's creditors would receive? Multiple Choice $2,000 $0 $3,100 $7,500 Carney, Pierce, Menton, and Hoehn are partners who share profits and losses on a 4:3:21 basis, respectively. They are beginning to liquidate the business. At the start of this process capital balances are Carney, capital Pierce, capital Menton, capita.l Hoehn, capital $67,000 29,100 50,000 22,100 Which of the following statements is true? Multiple Choice The first available $4,100 will go to Hoehn Carney will be the last partner to receive any available cash. The first available $5,800 will go to Menton. Carney will collect a portion of any available cash before Hoehn receives money