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Tim and Vito are about to liquidate their partnership. They each have $20,000 capital balances, and they share income and losses in a 3:1 ratio,

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Tim and Vito are about to liquidate their partnership. They each have $20,000 capital balances, and they share income and losses in a 3:1 ratio, respectively. In addition, the partnership has $25,000 in cash, $45,000 in noncash assets, and $30,000 in accounts payable. Assuming that the noncash assets are sold for $17,000 and that both partners are personally solvent, calculate: The amount of deficiency to be brought in by any of the partners AND the amount to be paid off to the partner having an excess capital account balance. (Only write the name of the partner and the amount invested or received, e.g. A invests $000, B receives $000)

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