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What is the minimum that morse creditors would receive

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Question - Gonda, Herron and Morse is considering possible liquidation because Morse is insolvent. The partners have the following balances: $60,000, $70,000 and $40,000, respectively and share profits and losses 30%, 45% and 25%, respectively. The partnership has $200,000 in assets that can be sold for $150,000. What is the minimum that Morse's creditors would receive if they have filed a claim for $50,000?

Reference no: EM133151954

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