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solve it asap Partners Thelma Lou and Aunt Bee each have a $50,000 capital balance 5 points and share profits and losses in a 2:1
solve it asap
Partners Thelma Lou and Aunt Bee each have a $50,000 capital balance 5 points and share profits and losses in a 2:1 ratio, respectively. The cash balance is $40,000, non-cash assets total $210,000, and liabilities total $150,000. If the non-cash assets are sold for $180,000, what amount will Thelma Lou receive after liquidation? $40,000 $30,000$70,000 $50,000 Step by Step Solution
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