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After closing the accounts on July 1, prior to liquidating the partnership, the capital account balances of Siver, Carilio, and Tingley are $42,600,$60,600, and $27,000,

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After closing the accounts on July 1, prior to liquidating the partnership, the capital account balances of Siver, Carilio, and Tingley are $42,600,$60,600, and $27,000, respectively. Cash, noncash assets, and liabilities total $67,500,$112,200, and $49,500, respectively. Between July 1 and July 29 , the noncash assets are sold for $90,000, the liabities are paid, and the remaining cash is distrnbuted to the partners. The partners share net income and loss in the ratio of 3:2:1. Prepare a statement of partnership liquidation for the period July 1-29. Enter any subtractions (balance deficiencies, payments, cash distributions, divisions of Ioss, sale of assets) as negative numbers using a minus sign, If an amount is zero, enter in "0

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