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Prior to liquidating their partnership, Todd and Brooks had capital accounts of $52,000 and $94,000,...

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Accounting

Prior to liquidating their partnership, Todd and Brooks had capital accounts of $52,000 and $94,000, respectively. Prior to liquidation, the partnership had no cash assets other than what was realized from the sale of assets. These partnership assets were sold for $130,000. The partnership had $7,000 of liabilities. Todd and Brooks share income and losses equally. Determine the amount received by Todd as a final distribution from liquidation of the partnership.

$_____

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