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Hi looking for feedback on the answer The Bennett and Coleman partnership has decided to liquidate. After selling its non-cash assets and paying off its
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The Bennett and Coleman partnership has decided to liquidate. After selling its non-cash assets and paying off its liabilities, the partnership has cash of S70.000. Bennett and Coleman's capital accounts are $28,000 and $42,000, respectively Bennett and Coleman share profits 1:5 Journalize the final distribution of cash to the partnersStep by Step Solution
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