Advance Accounting X Your Sets | Quizlet By how much will men%20Comprensivo-%20Advanced%20Accounting.pdf 5/35 - 70% + 1 60) In partnership liquidation, how are partner salary allocations treated? A) Salary allocations take precedence over creditor payments. B) Salary allocations take precedence over amounts due to partners with respect to their capital interests, but not profits. C) Salary allocations take precedence over amounts due to partners with respect to their capital profits, but not capital interests. D) Salary allocations are disregarded. 61) A simple partnership liquidation requires A) periodic payments to creditors and partners determined by a safe payments schedule. B) partnership assets to be converted into cash with full payment made to all outside creditors before remaining cash is distributed to partners. C) only creditors to be paid in an orderly manner. D) periodic payments to partners as cash becomes available. 62) If conditions produce a debit balance in a partner's capital account when liquidation losses are allocated, then A) the partner receives further allocations of liquidation losses, but not gains. B) the partner receives further allocations of liquidation gains, but not losses. C) the partner is no longer obligated to partnership creditors. D) the partner has an obligation of personal net assets to the other partners.