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QUESTION 7 In liquidation, balances prior to the distribution of cash to the partners are: Cash $800,000: Peterson, Capital $370,000: Laney, Capital $340,000, and Howell,

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QUESTION 7 In liquidation, balances prior to the distribution of cash to the partners are: Cash $800,000: Peterson, Capital $370,000: Laney, Capital $340,000, and Howell, Capital $90,000. The income ratio is 6:2:2, respectively. How much cash should be distributed to Peterson? $222,000 a. S370,000 Ob. $420,000 . $360,000 Od

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