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Prior to liquidating their partnership, Craig and Jenny had capital accounts of $68,510 and $112,290, respectively. The partnership assets were sold for $215,000. The partnership
Prior to liquidating their partnership, Craig and Jenny had capital accounts of $68,510 and $112,290, respectively. The partnership assets were sold for $215,000. The partnership had $20,130 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. $fill in the blank 1
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