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Prior to liquidating their partnership, Craig and Jenny had capital accounts of $70,130 and $129,380, respectively. The partnership assets were sold for $242,780. The partnership
Prior to liquidating their partnership, Craig and Jenny had capital accounts of $70,130 and $129,380, respectively. The partnership assets were sold for $242,780. The partnership had $27,390 of liabilities. Craig and Jenny share income and losses equally. Determine the amount received by Jenny as a final distribution from liquidation of the partnership
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