In preparing a Statement of Liquidation for the liquidation of a partnership, a loan pay...
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Accounting
In preparing a Statement of Liquidation for the liquidation of a partnership, a loan pay able to a partner by the partnership is... A. paid immediately after all outside creditors have been paid in full without regard to the partner's capital account balance B. a ledger account of the partner which is combined with the partner's capital account C. used to absorb the partner's share of losses on realization of assets D. not considered to be a liability of the partnership
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