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A partnership has the following account balances:
Cash, $91,000;
Other Assets, $645,000;
Liabilities, $326,000;
Nixon (50 percent of profits and losses), $185,000;
Cleveland (30 percent), $135,000;
Pierce (20 percent), $90,000.
The company liquidates, and $18,500 becomes available to the partners.
Question 1: Who gets the $18,500? Determine how much of this amount should be distributed to each partner. (Do not round intermediate calculations.)
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