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Question - Unger, Wolf and Zen partnership have agreed to liquidate their partnership. The 3 partners have the following capital balances and profit and loss percentages:
Wolf: $120,000 (30%)
Zen: $180,000 (50%)
Unger $100,000 (20%)
Although there are still assets to sell, there is $50,000 of cash that can be immediately distributed, as the partnership has no remaining liabilities. Which partner(s) can receive that money now and how much will each receive.
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