Ash, Bush and Cobb decide to liquidate their partnership. Net income or net loss is shared equally. The account balances are: Cash $4,000; Noncash Assets $44,000; Liabilities $8,000; Capital, Ash $10,000; Capital, Bush $20,000; Capital, Cobb $10,000 . If the noncash assets are sold for $50,000, Ash's final cash distribution will be:
a. $12,000
b. $10,000
c. $30,000
d. $18,000
e. $62,000
a
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