Use the Following Information to Answer the Question(s)below

Use the following information to answer the question(s) below.
On June 30,2011,the Able,Baker,and Charlie partnership had the following fiscal year-end balance sheet:
The percentages shown are the residual profit and loss sharing ratios.The partners dissolved the partnership on July 1,2011,and began the liquidation process.During July the following events occurred:
* Receivables of $6,000 were collected.
* All inventory was sold for $8,000.
* All available cash was distributed on July 31,except for
$4,000 that was set aside for contingent expenses.
-The cash available for distribution to the partners on July 31,2011 is

A) $ 4,000.
B) $ 8,000.
C) $14,000.
D) $22,000.

Correct Answer:

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