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Problem $15-33($Algo$)($LO $15-2,15-7)$

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The partnership of Butler, Osman, and Ward was formed several years ago as a local tax preparation firm.

Two partners have reached retirement age, and the partners have decided to terminate operations and

liquidate the business. Liquidation expenses of $$48,000$ are expected. The partnership balance sheet at

the start of liquidation is as follows:

Problem $15-33$ Part A

Prepare a predistribution plan for this partnership.

Answer is not complete. fill missing areas i assumed loss $1$ and assumed loss $2$