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Alex and Bess have been in partnership for many years. The partners, who share profits...

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Accounting

Alex and Bess have been in partnership for many years. The partners, who share profits and losses on a 70:30 basis, respectively, wish to retire and have agreed to liquidate the business. Liquidation expenses are estimated to be $4,500. At the date the partnership ceases operations, the balance sheet is as follows:
\table[[Cash,$61,000
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