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Determine the proper distribution of cash

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Question - Following is the balance sheet of the BDO Partnership:

Cash $11,000

Liabilities $18,000

Accounts Receivable 41,000

Brink, Capital 47,000

Inventory 29,000

Davis, Capital 27,000

Equipment 64,000

Olsen, Capital 53,000

$145,000 $145,000

The partners share income 40:40:20, respectively. Assume that 70% of the receivables are collected and that inventory with a book value of $16,000 is sold for $10,000. All cash available at this time is to be distributed.

Required - Determine the proper distribution of cash, using the safe payment approach?

Reference no: EM132762190

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