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The Allen, Bevell, and Carter partnership began the process of liquidation with the following balance sheet: Cash Noncash assets $ 25,000 500,000 Liabilities Allen, capital
The Allen, Bevell, and Carter partnership began the process of liquidation with the following balance sheet: Cash Noncash assets $ 25,000 500,000 Liabilities Allen, capital $175,000 90,000 Bevell, capital 100,000 Carter, capital 160,000 $525,000 Total $525,000 Total es Allen, Bevell, and Carter share profits and losses in a ratio of 3:2:5. Liquidation expenses are expected to be $14,000. Assuming that, after the payment of liquidation expenses in the amount of $14,000 was made and the noncash assets were sold, if Carter has a deficit of $10,000, for what amount would the noncash assets have been sold
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