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Jacob boling and harlan bishop with capital balances of

Jacob Boling and Harlan Bishop, with capital balances of $43,000 and $57,000, respectively, decide to liquidate their partnership. After selling the noncash assets and paying the liabilities, there is $76,000 of cash remaining. If the partners share income and losses equally, how should the cash be distributed?

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Accounting Basics: Jacob boling and harlan bishop with capital balances of

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