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The Henry, Isaac, and Jacobs parthershlp was about to onter llquidiotion watr the following account balances: Estimated expenses of liquidation were $5,000. Henry, lsaac, and Jacobs shared profits and losses in a ratio of 2:4:4. Required 1. Before liquidating any assets, the partners determined the amount of cash available for safe payments. How should the amount of safe cash payments be distributed? 2. Assume that non-cash assets were sold at 50% of its book value. The liquidation expenses of $5,000, as well as liabilities were paid. How much cash would be available for partners? How to distribute it among partners? The Henry, Isaac, and Jacobs parthershlp was about to onter llquidiotion watr the following account balances: Estimated expenses of liquidation were $5,000. Henry, lsaac, and Jacobs shared profits and losses in a ratio of 2:4:4. Required 1. Before liquidating any assets, the partners determined the amount of cash available for safe payments. How should the amount of safe cash payments be distributed? 2. Assume that non-cash assets were sold at 50% of its book value. The liquidation expenses of $5,000, as well as liabilities were paid. How much cash would be available for partners? How to distribute it among partners

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