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Ames and Barton are partners who share income in the ratio of 1:2 and have capital balances of $40,000 and $70,000 at the time they
Ames and Barton are partners who share income in the ratio of 1:2 and have capital balances of $40,000 and $70,000 at the time they decide to terminate the partnership. After all noncash assets are sold and all liabilities are paid, there is a cash balance of $80,000. What amount of loss on realization should be allocated to Barton?
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