The following condensed balance sheet is presented for the partnership of D, E, and F who share profits and losses in the ratio of 5:3:2, respectively: Cash$100,000 Other Assets 480,000 $580,000 Liabilities$160,000 D, Capital 200,000 E, Capital 130,000 F, Capital 90,000 Total$580,000 The partners agreed to liquidate the partnership after selling the other assets.Refer to the above information. If the other assets are sold for $80,000, and all partners are personally insolvent, how much should E receive upon liquidation?
A. $20,000
B. $6,000
C. $10,000
D. $0
Answer: C
Business
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