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 $62,500 Hardy, capital 61,000 Dennard, capital 15,000 Suddath, capital 85,000 Bell's creditors have filed a $26,000 claim against the partnership's assets. The partnership currently holds assets of $350,000 and liabilities of $126,500. If the assets can be sold for $215,000, what is the minimum amount that Bell's creditors would receive? Multiple Choice $3,700 $0 $2,500 $8,500

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's creditors have filed a $26,000 claim against the partnership's assets. The partnership currently holds assets of $350,000 and liabilities of $126,50d. If the assets can be sold for $215,000, what is the minimum amount that Bell's creditors would receive? Multiple Choice - $3,700 - $0 - $2,500 - $8,500