Sophia and Thomas are in business as the ST partnership. The partnership is undergoing an installment liquidation. Sophia and Thomas share income in a 4:1 ratio, and have current capital balances of $40,000 and $70,000, respectively. $30,000 in cash is available for distribution. Assuming all liabilities have been paid, what is the amount of the safe payment to Thomas?
A) $ 0
B) $20,000
C) $24,000
D) $30,000
Correct Answer:
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