Question 12 (3.5 points) At the beginning of liquidation, the KFM partnership developed the following...
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Question 12 (3.5 points) At the beginning of liquidation, the KFM partnership developed the following predistribution plan. Available Cash Recipients First $15,000 Creditors and liquidation expense Next $34,000 M Next $30,000 K and M Remainder KF, and M The profit and loss is allocated on a 6:2:2 basis to partners K, F. and M, respectively. Assume that $ 60,000 of Cash is available at the beginning of the liquidation. How much cash can be safely distributed to partner M? $34.000 plus 20% of $11,000. $34,000 plus two-eighth (2/8) of $11,000. 20% of $60.000. $34.000 plus two-eighth (2/8) of $26.000
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