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The partnership of Mohammed, Meshal and Assel is in the process of liquidation. The balance sheet as at June 30, 2019 the end of the

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The partnership of Mohammed, Meshal and Assel is in the process of liquidation. The balance sheet as at June 30, 2019 the end of the fiscal year is as follows: Cash $38,000 Accounts receivable 15,500 Equipment 12,000 $65,000 Accounts payable 50,000 Notes Payable 50,000 Loan from Aseel Mohammed, capital 13,500|(20%) Meshal, capital (30%) Assel, capital (50%) $178,500 Total liabilities & equity Loan to Meshal 40,000 30,000 43,000 $178,500 Total assets The percentages shown are the profit & loss sharing ratios. The partners dissolved the partnership on July 1, 2019, and began the liquidation process. During July the following events occurred: * All Accounts receivables were collected. * Equipment of $30,000 was sold for $35,000. * All available cash was distributed, except for $15,000 that was hold for contingent expenses. Required: How much would each partner receive from the cash that is available for distribution on July 31? (Assume a safe payments schedule is used.)

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