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July 1, prior to liquidating the partnership, the capital account balances of Gold, Porter, and Sims are $46,500, $66,000, and $29,400, respectively. Cash, noncash assets,

July 1, prior to liquidating the partnership, the capital account balances of Gold, Porter, and Sims are $46,500, $66,000, and $29,400, respectively. Cash, noncash assets, and liabilities total $70,500, $122,100, and $50,700, respectively. Between July 1 and July 29, the noncash assets are sold for $97,500, the liabilities are paid, and the remaining cash is distributed to the partners. The partners share net income and loss in the ratio of 3:2:1. Prepare a statement of partnership liquidation for the period July 1-29. Enter any subtractions (balance deficiencies, payments, cash distributions, divisions of loss, sale of assets) as negative numbers using a minus sign. If an amount is zero, enter in "0

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