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Doug, Davis, and Dwight are in the process of liquidating their partnership. They share profits and losses in a 5:3:2 ratio. Following is the current
Doug, Davis, and Dwight are in the process of liquidating their partnership. They share profits and losses in a 5:3:2 ratio. Following is the current balance sheet for the partnership: Cash $100,000 Liabilities $55,000 Other assets 225,000 Doug, capital 145,000 Davis, capital 50,000 Dwight, capital 75,000 Total assets $325,000 Total liabilities and capital $325,000 Refer to Table 12-11. Assume the other assets were sold for $180,000. What are the partners' capital balances right after the sale of the noncash assets
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