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XYZ Partnership is going through a simple liquidation and has the following A balance sheet (partner profit and loss ratios in parentheses): | Assets |
XYZ Partnership is going through a simple liquidation and has the following A balance sheet (partner profit and loss ratios in parentheses): | Assets | Liabilities and Capital ash Notes Payable $25,00 oncash Assets | 100,000[X, Capital (50%) 30,00 Y, Capital (30%) 40,00 | | |z.Capital @0%) 55,00 $150,000(Total Liabilities and Capital | $150,00 The partnership sold all noncash assets for $60,000 and distributed all available cash in the final liquidation of the partnership. How much cash will Partner Y receive in the final liquidation
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