The partnership decided to terminate the entity and sold everything for cash on 01/01/2011. accounts receivable was sold for $5,000 and land was sold for $25,000. ppe was sold for 5,000 and inventory was sold for 7,000. liquidation fee (paid to liquidator) was 5,000. assuming that after liquidation starts, any partner with negative capital balance will contribute cash to bring the balance to 0, calculate how much each partner is entitled to after terminating the partnership. (6 points)

Match the terms with their correct definition. terms: 1. accounts receivable 2. other receivables 3 debtor 4. notes receivable 5. maturity date 6. creditor definitions: a. the party to a credit transaction who takes on an obligation/payable. b. the party who receives a receivable and will collect cash in the future. c. a written promise to pay a specified amount of money at a particular future date. d. the date when the note receivable is due. e. a miscellaneous category that includes any other type of receivable where there is a right to receive cash in the future. f. the right to receive cash in the future from customers for goods sold or for services performed.