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The Dou Partnership at December 31 has Cash $40000, Machinery $100000, Liabilities $60000, and the following Capital balances: Tamara $40000 and Kate $40000. The firm

The Dou Partnership at December 31 has

Cash $40000, Machinery $100000,

Liabilities $60000, and the following Capital balances: Tamara $40000 and Kate $40000.

The firm is liquidated, and $90000 in cash is received for the noncash assets.

The partners share profits and losses in the ratio of 4:1.

Prepare the schedule of liquidation!

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