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Question - Mark, Anthony, and Fernandez are in the process of liquidating their partnership and their account balances as of October 1, 2020 are as follows:
DEBIT
CREDIT
Cash
$30,000
Non-Cash Asset
70,000
Anthony Loan
$14,000
Mark, Capital
10,000
Anthony, Capital
35,000
FERNANDEZ, Capital
41,000
The profit and loss sharing ratio has been 4:3:3 between Mark, Anthony, and FERNANDEZ, respectively. Assuming that the partnership realized P30,000 from the sale of the non-cash assets and that any deficiency is uncollectible. How much cash will Anthony receive?
A. 49,000 B. 34,000 C. 37,000 D. 19,000
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