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Distribution of cash to the partners

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Reference no: EM131131886

Data for The Best Company are presented in E12-8.

Instructions

Prepare the entries to record:

(a) The sale of noncash assets.

(b) The allocation of the gain or loss on realization to the partners.

(c) Payment of creditors.

(d) Distribution of cash to the partners. 

Reference no: EM131131886

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