Chenard, Jennings, and Blair share profits and losses is 2:3:5, respectively. The balance sheet is: CHENARD, JENNINGS, AND BLAIR PARTNERSHIP Balance Sheet December 31, 2020 Assets Liabilities and Owners' Equity Cash $45100 Liabilities $145000 Noncash assets 280000 Chenard, Capital 60000 Jennings, Capital 90300 Blair, Capital 29800 Total $325100 Total $325100 If the partnership is liquidated and the noncash assets are worthless, the creditors will look to what partner's personal assets for settlement of the creditors' claims?

Multiple Choice Question 105 Chenard, Jennings, and Blair share profits and losses is 2:3:5, respectively. The balance sheet is: CHENARD, JENNINGS, AND BLAIR PARTNERSHIP Balance Sheet December 31, 2020 Assets Liabilities and Owners' Equity. Cash $45100 Liabilities $145000 Noncash assets 280000 Chenard, Capital 60000 Jennings, Capital 90300 Blair, Capital 29800 Total $325100 Total $325100 If the partnership is liquidated and the noncash assets are worthless, the creditors will look to what partner's personal assets for settlement of the creditors' claims? O The personal assets of Partner Jennings. O The personal assets of the partners are not available for partnership debts. O The personal assets of Partners Chenard and Blair. O The personal assets of Partners Chenard, Jennings, and Blair. Click if you would like to Show Work for this question: Open Show Work