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Matthews, Mitchell, and Michaels are partners in BG Land Development Company and share losses in a 6 : 3 : 1 ratio, respectively. The balance

Matthews, Mitchell, and Michaels are partners in BG Land Development Company and share losses in a

6

3

1

ratio, respectively. The balance sheet on June

30, 20

1,

when they decide to liquidate the business, is as follows:

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