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The balance sheet of the Troy Partnership at September 30, 2020, shows: Va Various Assets 500,000 Various Liabilities 100,000 Capital, Thomas 160,000 120,000 80,000 40,000

The balance sheet of the Troy Partnership at September 30, 2020, shows: Va

Various Assets 500,000 Various Liabilities 100,000
Capital, Thomas 160,000
120,000
80,000
40,000
Total 500,000 500,000

The Troy Partnership decides to terminate operations and liquidate. To begin the process, assets with a book value of $292,000 are sold for $184,000. Under a safe payment approach, how much will be distributed to the partners?

Thomas $62,000, Renee $22,000, Oscar $0, Yvonne $0 <------- This is the correct answer, but please explain how they arrive at the answer in good detail. Thank you!

Thomas $92,000, Renee $92,000, Oscar $0, Yvonne $0

Thomas $87,000, Renee $47,000, Oscar $25,000, Yvonne $25,000

Thomas $46,000, Renee $46,000, Oscar $46,000, Yvonne $46,000

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