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Cole and Madison are partners who decided to liquidate the partnership. Before the liquidation, the partnership's balance sheet showed Cash $10,000, total 'other assets', $106,000; total liabilities, $88,000; Cole Capital, $15,100; and Madison, Capital, $12,900. The 'other assets' were sold for $118,000. After liabilities are paid, what is total distribution to Cole?

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1. Cole and Madison are partners who decided to liquidate the partnership. Before the liquidation, the partnership's balance sheet showed Cash $10,000, total 'other assets', $106,000; total liabilities, $88,000; Cole Capital, $15,100; and Madison, Capital, $12,900. The 'other assets' were sold for $118,000. After liabilities are paid, what is total distribution to Cole?





 
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