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When Peter gave notice to Paul and Mary of dissolution of their entertainment partnership business, the capital accounts were as follows: Peter: $30,000 Paul:

When Peter gave notice to Paul and Mary of dissolution of their entertainment partnership business, the

When Peter gave notice to Paul and Mary of dissolution of their entertainment partnership business, the capital accounts were as follows: Peter: $30,000 Paul: $50,000 Mary: $20,000 The partnership assets were liquidated to $30,000. Outstanding liabilities to third parties totaled $39,000. Peter, Paul and Mary will each respectively receive: Multiple Choice $20,000; $30,000; $50,000. $27,000; $47,000; $17,000. $27,000; $45,000; $18,000. $30,000; $50,000; $20,000.

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