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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
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 $ 50000 Liabilities $157000 Noncash assets 287000 Chenard, Capital 60400 Jennings, Capital 90600 Blair, Capital 29000 Total $337000 Total $337000 If the partnership is liquidated by selling the noncash assets for $377000, and creditors are paid in full, what is the total amount of cash that Chenard will receive in the distribution of cash to partners? O $74000 O $117800 O $18000 O $78400
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