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A partnership has the following account balances

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Question

A partnership has the following account balances: Cash, $87,000; Other Assets, $625,000; Liabilities, $359,000;

Nixon (50% of profits and losses), $165,000; Cleveland (30%), $115,000; Pierce (20%), $73,000. The company liquidates, and $16,500 becomes available to the partners. Who gets the $16,500?

 
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