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helppp 7. The ALPHA, BETA, AND DELTA partnership has total assets of $260,000. Capital balances for partners ALPHA, BETA, and DELTA are $59,000,$30,000, and $50.000,
helppp
7. The ALPHA, BETA, AND DELTA partnership has total assets of $260,000. Capital balances for partners ALPHA, BETA, and DELTA are $59,000,$30,000, and $50.000, respectively. The profit/loss percentages for partners ALPHA, BETA. and DELTA are 30%,40%, and 30%, respectively. Included in the liabilities is a $9,000 loan payable to ALPHA. The partnership has elected to liquidate over the next several months. Assuming that cash and noncash assets have balances 100.000 and 160.000, respectively, and assets with a book value of $80,000 were sold for $60,000. If liquidation expenses are estimated to be $30,000, how should the available cash be distributed under installment liquidation? ( 20 points) Step by Step Solution
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