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If arnold is personally bankrupt and unable to pay any of

Liquidating partnerships-capital deficiency

Arnold, Peters, and Suzuki are partners sharing income 3:2:1. After the firm's loss from liquidation is distributed, the capital account balances were: Arnold, $18,000 Dr.; Peters, $75,000 Cr.; and Suzuki, $55,000 Cr. If Arnold is personally bankrupt and unable to pay any of the $18,000, what will be the amount of cash received by Peters and Suzuki upon liquidation?

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Accounting Basics: If arnold is personally bankrupt and unable to pay any of

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Accounting Basics: If arnold is personally bankrupt and unable to pay any of

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