Potter, Granger and Weasley share profits and losses equally. On January 1, 2021, they have decided to
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Question:
Potter, Granger and Weasley share profits and losses equally. On January 1, 2021, they have decided to liquidate their partnership. After 3 years of fruitful partnership, from the initial $200,000 each initial contribution, their capital balances grew to $1,500,000; $2,500,000; and $3,000,000, respectively. After realizing all non-cash assets, the cash balance is $8,175,000 and unpaid partnership creditors $875,000. How much Wesley will receive as final settlement?
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