The Arnold, Bates, Carlton, and Delbert partnership was liquidating.It had paid all its liabilities and had some assets yet to be sold.The partners had capital account balances of ($50,000), $90,000, $110,000, and $130,000.There was $40,000 cash available for distribution to the partners.What procedures would be followed to determine the amount of cash that could safely be distributed to each partner?

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The Answer of The Arnold, Bates, Carlton, and Delbert partnership was liquidating.It had paid all its liabilities and had some assets yet to be sold.The partners had capital account balances of ($50,000), $90,000, $110,000, and $130,000.There was $40,000 cash available for distribution to the partners.What procedures would be followed to determine the amount of cash that could safely be distributed to each partner?

The Arnold, Bates, Carlton, and Delbert Partnership Was Liquidating