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Partners A, B, and C have capital account balances of $120,000 each. The income and loss ratio is 5:2:3, respectively. In the process of liquidating
Partners A, B, and C have capital account balances of $120,000 each. The income and loss ratio is 5:2:3, respectively. In the process of liquidating the partnership, noncash assets with a book value of $100,000 are sold for $40,000. The balance of Partner B's Capital account after the sale is Select one: a. $90,000. b. $132,000. c. $102,000. d. $108,000.
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