After all noncash assets have been converted into cash in the liquidation of the AA and JJ partnership, the ledger contains the following account balances: Credit Debit 34,000 Cash Accounts payable...


A. P4,500 each to AA and JJ





B. P8,000 to AA and P1,000 to JJ












C. P9,000 loan payable to AA












D. P1,000 to AA and P8,000 to JJ




After all noncash assets have been converted into cash in the liquidation of the AA and JJ<br>partnership, the ledger contains the following account balances:<br>Credit<br>Debit<br>34,000<br>Cash<br>Accounts payable<br>Loan payable to AA<br>AA, capital<br>JJ, capital<br>25,000<br>9,000<br>8,000<br>8,000<br>Available cash should be distributed; P25,000 to accounts payable and:<br>

Extracted text: After all noncash assets have been converted into cash in the liquidation of the AA and JJ partnership, the ledger contains the following account balances: Credit Debit 34,000 Cash Accounts payable Loan payable to AA AA, capital JJ, capital 25,000 9,000 8,000 8,000 Available cash should be distributed; P25,000 to accounts payable and:

Jun 11, 2022
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