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The partners of the Blue Tooth Partnership agree to liquidate. After all liabilities of $100,000 are paid, the partnership's cash balance is $110,000, and the

  1. The partners of the Blue Tooth Partnership agree to liquidate. After all liabilities of $100,000 are paid, the partnership's cash balance is $110,000, and the capital account balances are: Peters, $60,000; Winslow, $20,000; and Wong, $30,000. Prepare the final journal entry to distribute the ending cash. (4 marks)

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