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Prior to liquidating their partnership, Craig and Jenny had capital accounts of $72, 110 and $135,540, respectively. The partnership assets were sold for $248,660. The
Prior to liquidating their partnership, Craig and Jenny had capital accounts of $72, 110 and $135,540, respectively. The partnership assets were sold for $248,660. The partnership had $24,740 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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