Question: QUESTION 17 17. The partnership between Gary Jones and Jeffery Blaze share income and losses in a of 3:1, respectively. At the end of December
QUESTION 17 17. The partnership between Gary Jones and Jeffery Blaze share income and losses in a of 3:1, respectively. At the end of December 31, 2020, they decided to liquidate the partnership. The following information was available to you prior to the commencement of liquidation: Inventory Accounts Payable Gary Jones Cap Jeffery Blaze Cap 20,000 50,000 5,000 45,000 20,000 Additional Information: 1. Inventory was sold for $55,000. Cash 2. Liabilities were paid 3. Cash distributed to partners after liquidation What was the final cash distributed to Jeffrey after the liquidation was completed? A $46750 B. $21,250 C. $48,750 D.S$22,250
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