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  3. 3. (25 pts) flow, slow, and crow are partners shar

3. (25 pts) Flow, Slow, and Crow are partners sharing profits and losses...

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Accounting

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3. (25 pts) Flow, Slow, and Crow are partners sharing profits and losses 40/30/30 respectively. The business is doing poorly, and they decide to go out of business. Their balance sheet is below: Cash Receivable from Flow Property & Equipment $200,000 100,000 550,000 Payables to Creditors $320,000 Payable to Slow 20,000 Flow, Capital 200,000 Slow, Capital 120,000 Crow, Capital 190,000 $850,000 $850,000 Property & Equipment of $350,000 was sold for $300,000. They estimate that liquidation expenses will be $35,000. Prepare a safe payment schedule after the assets are sold

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