DON, BEH and SAD partnership became insolvent and the partnership is being liquidated as soon as feasible. In this respect the following information for the
DON, BEH and SAD partnership became insolvent and the partnership is being liquidated as soon as feasible. In this respect the following information for the partners has been marshaled: Capital Personal Personal Balances Balances Liabilities DON 70,000 80,000 40,000 BEH (60,000) 30,000 50,000 SAD (30,000) 70,000 30,000 Total (20,000) Assume that residual profits and losses are shared equally among the three partners, based on this information, what is the maximum amount that DON can expect to receive from the partnership liquidation? A. 20,000 C. 70,000 B. 40,000 D. 110,000
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