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What is the minimum that morse creditors would receive

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Problem 1: Gonda, Herron and Morse is considering possible liquidation because Morse is insolvent. The partners have the following capital balances: P60,000, P70,000 and P40,000, respectively and share profits and losses 30%, 45% and 25%, respectively. The partnership has P200,000 in assets that can be sold for P150,000. What is the minimum that Morse's creditors would receive if they have filed a claim for P50,000?

A. P50,000

B. P-0-

C. P45,000

D. P27,500

Reference no: EM132820222

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