Determine amount of cash that should be paid to each partner

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Reference no: EM133921857

Problem

Liquidation-Cash distribution computation, safe payments schedule

Fed, Ela, and Luc have decided to liquidate their partnership. Account balances on January 1, 2016, are as follows:

The partners agree to keep a $30,000 contingency fund and to distribute available cash immediately. Get the instant assignment help.

Task

Determine the amount of cash that should be paid to each partner.

Reference no: EM133921857

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