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Carney, Pierce, Menton, and Hoehn are partners who share profits and losses on a 4:3:21 basis, respectively. They are beginning to liquidate the business. At

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Carney, Pierce, Menton, and Hoehn are partners who share profits and losses on a 4:3:21 basis, respectively. They are beginning to liquidate the business. At the start of this process, capital balances are Carney, capital Pierce, capital Menton, capital Hoehn, capital $85, 000 34,500 68,000 27,500 Which of the following statements is true? Multiple Chpice o to Hoehn. The first available $9.500 will Carney will collect a portion of any available cash before Hoehn receives money. Carney will be the lest partner receive any available cash. Menton The first available $13,000 will go t

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