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What amount of the available cash should be distributed

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Question - The following condensed balance sheet is presented for the partnership of BBB and AAA, who share profits and losses on the ratio of 60:40, respectively:

Other assets P 450,000

BBB loan 20,000

P 470,000

Accounts payable P 120,000

BBB, capital 195,000

AAA, capital 155,000

Total P 470,000

The partners have decided to liquidate the partnership. If the other assets are sold P385,000, what amount of the available cash should be distributed to BBB?

Reference no: EM132779437

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