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Use the following account balance information for Granobfin Partnership with income ratios of 2:4:4 for Thomas, Noble, and Finn, respectively. Assume that, as part of
Use the following account balance information for Granobfin Partnership with income ratios of 2:4:4 for Thomas, Noble, and Finn, respectively. Assume that, as part of liquidation proceedings, Granobfin sells its noncash assets for $359200. 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 Assume that, as part of liquidation proceedings, Granobfin sells its noncash assets for $359200. 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 $143100. $205000. $312400. $228760
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