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Jeff and Mike decide to start a law practice together. They form their practice as a general partnership, with each person owning 5 0 %
Jeff and Mike decide to start a law practice together. They form their practice as a general partnership, with each person owning of the practice. Mike and Jeff had an incredibly good year and accumulated $ in cash in the bank. Mike and Jeff decide that each of them will take $ as a bonus at the end of the year. On December the State Child Support collection agency garnished the partnership account seeking to collect on Mike's past due child support. How much could the Child Support collection agency get from the account?
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