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Use the following account balance information for Granobfin Partnership with income ratios of 2:4:4 for Donald, Noble, and Finn, respectively. Assets Liabilities and Owner's
Use the following account balance information for Granobfin Partnership with income ratios of 2:4:4 for Donald, Noble, and Finn, respectively. Assets Liabilities and Owner's Equity Cash $53800 Accounts payable $126400 Accounts receivable 132500 Inventory Donald, Capital 138400 438000 Noble, Capital 47000 Finn, Capital 312500 $624300 $624300 Assume that, as part of liquidation proceedings, Granobfin sells its noncash assets for $360900. As a result, one of the partners has a capital deficiency which that partner decides not to repay. The amount of cash that would ultimately be distributed to Finn would be O $312500. O $228660. O $144400 O $204100.
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