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The balance sheet given below is presented for the partnership of Jason, April, and Erin: Cash $ 60,000 Liabilities $ 80,000 Other Assets 150,000 Jason,

The balance sheet given below is presented for the partnership of Jason, April, and Erin:

Cash $ 60,000 Liabilities $ 80,000
Other Assets 150,000 Jason, Capital 80,000
April, Capital 30,000
Erin, Capital 20,000
Total $ 210,000 Total $ 210,000

The partners share profits and losses in the ratio of 5:3:2, respectively. The partners agreed to dissolve the partnership after selling the other assets for $20,000. On dissolution of the partnership, Jason should receive:

Multiple Choice

  • $80,000.

  • $0.

  • $10,000.

  • $30,000.

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