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Alex and Bess have been in partnership for many years. The partners, who share profits and losses on a 7 0 : 3 0 basis,
Alex and Bess have been in partnership for many years. The partners, who share profits and losses on a : basis, respectively, wish to retire and have agreed to liquidate the business. Liquidation expenses are estimated to be $ At the date the partnership ceases operations, the balance sheet is as follows:
tableCash$
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