XYZ Partnership is going through a simple liquidation and has the following balance sheet (partner profit and loss ratios in parentheses): Assets Liabilities and Capital
XYZ Partnership is going through a simple liquidation and has the following balance sheet (partner profit and loss ratios in parentheses): Assets Liabilities and Capital Cash $50,000 Notes Payable $25,000 Noncash Assets 100,000 X, Capital (50%) 30,000 Y, Capital (30%) 40,000 Z, Capital (20%) 55,000 Total Assets $150,000 Total Liabilities and Capital $150,000 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 Z receive in the final liquidation
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