Liquidating Partnerships

Prior to liquidating their partnership, Perkins and Gentry had capital accounts of $19,000 and $36,000, respectively. Prior to liquidation, the partnership had no cash assets other than what was realized from the sale of assets. These partnership assets were sold for $63,000. The partnership had $3,000 of liabilities. Perkins and Gentry share income and losses equally.

Determine the amount received by Gentry as a final distribution from liquidation of the partnership. $