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Non-Cash Assets recorded in the accounting records as $30 sold for $50 during the liquidation process. Consider the following: Easy, Capital Balance $12 Peasy, Capital
Non-Cash Assets recorded in the accounting records as $30 sold for $50 during the liquidation process. Consider the following: Easy, Capital Balance $12 Peasy, Capital Balance $13 Gains and Losses are divided equally. How would the partners' capital balances be affected by the sale of the non-cash assets? Group of answer choices a. Peasy's balance would increase by $10. b. Peasy's balance would decrease by $10. c. Peasy's balance would increase by $13. d. Peasy's balance would decrease by $13
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