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Following is the balance sheet of the BDO Partnership: Cash Accounts Receivable Inventory Equipment $11,000 37,000 30,000 59,000 $137,000 Liabilities Brink, Capital Davis, Capital Olsen,

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Following is the balance sheet of the BDO Partnership: Cash Accounts Receivable Inventory Equipment $11,000 37,000 30,000 59,000 $137,000 Liabilities Brink, Capital Davis, Capital Olsen, Capital $8,000 48,000 29,000 52,000 $137,000 The partners share income 40:40:20, respectively. Assume that 70% of the receivables are collected and that inventory with a book value of $15,000 is sold for $8,000. All cash available at this time is to be distributed. Determine the proper distribution of cash, using the safe payment approach. (Round answers to o decimal places, e.g. 5,125. Enter credit balance of an account and credit posting to an account with negative sign preceding the number, e.g.-45 or parentheses, e.g. (45).) Noncash Assets Cash Capital Balances Davis 40% Brink 40% Liabilities Olsen 20% $ $

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