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ask expert Distribution of cash upon liquidation $ 2 , 5 8 0 in cash. Use the minus sign to indicate any deficiency for the

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Distribution of cash upon liquidation
$2,580 in cash.
Use the minus sign to indicate any deficiency for the capital accounts.
a. How much net income was earned from the venture?
$
b. How should the $2,580 be distributed?
c. Assume that the partnership has only $1,380 instead of $2,580. Complete the following table to determine if any of the three partners have a capital deficiency?
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