Prior to liquidating their partnership, Craig and Jenny had capital accounts of $62,710 and $102,180, respectively....

 

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Prior to liquidating their partnership, Craig and Jenny had capital accounts of $62,710 and $102,180, respectively. The partnership assets were sold for $208,340. The partnership had $29,820 of liabilities. Craig and Jenny share income and losses equally. Determine the amount received by Jenny as a final distribution from liquidation of the partnership. Prior to liquidating their partnership, Craig and Jenny had capital accounts of $62,710 and $102,180, respectively. The partnership assets were sold for $208,340. The partnership had $29,820 of liabilities. Craig and Jenny share income and losses equally. Determine the amount received by Jenny as a final distribution from liquidation of the partnership.

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