McSweed Cleaning Co is a partnership between Tom McSweed and his wife's accountant. The accountant provided $40,000 in initial start-up capital (along with record keeping services) to Tom's provision of day-to-day staff coordination and back-breaking work. They recently shut down with $45,000 in debt after selling the business assets. For how much debt is each partner responsible?
a. $45,000
b. an equal share
c. proportionate to their initial investment
d. none
e. $5,000 for Tom and $40,000 for the accountant
A
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