Harriet, Mickey, and Zack decide to liquidate their partnership. All assets are sold, and the...
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Accounting
Harriet, Mickey, and Zack decide to liquidate their partnership. All assets are sold, and the liabilities are paid. Following these transactions, the capital balances and profit and loss percentages are as follows: Harriet, $25,900 and 30%; Mickey, ($7,800) and 40%; Zack, $40,200 and 30%. Mickey is unable to contribute any assets to reduce the deficit. How much cash will Harriet receive as a result of the partnership liquidation?
a.$23,560
b.$18,100
c.$25,900
d.$22,000
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