Section 8 (60 markv) 1. Lex. Tex and Dach hiwe been in partocntip for many years sharing profits and losses The Bulanee shect prepared as at at partners have agreed to dissolve the Partnership. The following information is available: a) Plant and Machinery were sold for $48,000 while Furniture and Fixtures were disposed at a value of $24,000. b) All the inventory was sold for $16,000. c) Account payables were duly settled. The partnership business had been dependent on one major customer who had been declared bankrupt owing an irrecoverable debt of $72,000. The remaining account receivables settle their amount due in full. Des informed Lex and Tex that he would be unable to provide funds to clear any indebtedness that may arise because of the dissolution. Section 8 (60 markv) 1. Lex. Tex and Dach hiwe been in partocntip for many years sharing profits and losses The Bulanee shect prepared as at at partners have agreed to dissolve the Partnership. The following information is available: a) Plant and Machinery were sold for $48,000 while Furniture and Fixtures were disposed at a value of $24,000. b) All the inventory was sold for $16,000. c) Account payables were duly settled. The partnership business had been dependent on one major customer who had been declared bankrupt owing an irrecoverable debt of $72,000. The remaining account receivables settle their amount due in full. Des informed Lex and Tex that he would be unable to provide funds to clear any indebtedness that may arise because of the dissolution