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Chenard, Jennings, and Blair share profits and losses is 2:3:5, respectively. The balance sheet is:...

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Accounting

Chenard, Jennings, and Blair share profits and losses is 2:3:5, respectively. The balance sheet is:

CHENARD, JENNINGS, AND BLAIR PARTNERSHIP

Balance Sheet

December 31, 2020

Assets

Liabilities and Owners' Equity

Cash

$30,000

Liabilities

$170,000

Noncash assets

280,000

Chenard, Capital

50,000

Jennings, Capital

70,000

Blair, Capital

20,000

$310,000

$310,000

The partnership is liquidated by selling the noncash assets for $365,000, and creditors are paid in full.

Calculate the total amount of cash that Chenard will receive in the distribution of cash

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