Jack and Jill are 60/40 partners and have agreed to share profits and losses in this manner. During the year there were no changes to how they share profits and losses. The Accounts Payable are recourse liabilities and Jack is allocated the total amount. The Mortgage Payable is a nonrecourse liability and both partners are allocated an amount the same as their profit and loss sharing percentage. Below is the information for each Partner: Jack Smith: Address: