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Home Q & A Board Other Fields Homework Help Business Accounting
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softballjunkie1 softballjunkie1
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5 years ago
Upon liquidation of a partnership, the cash received from the sale of assets is first returned to the capital balances of the partners.  The remaining cash is then used to pay off the liabilities of the business.
Textbook 
Horngren's Accounting

Horngren's Accounting


Edition: 11th
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dridri
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5 years ago
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#2
5 years ago
Going to mark this solved!
dri
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#3
5 years ago
Perfect
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