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Fresco and Garcia form a partnership-HVAC Pros. Garcia's capital contribution is $10,000, and Fresco's is $15,000. The partnership agreement provides that profits are to be shared, with 40 percent for Garcia and 60 percent for Fresco. Later, Garcia makes a $10,000 loan to the partnership when it needs working capital. When the partnership is dissolved, its assets are $50,000, and its debts are $8,000. How should the assets be distributed?
Golf Club
A tool used to hit the golf ball in the game of golf, consisting of a long shaft with a grip on one end and a weighted head on the other.
Golf Outfit
Specific clothing and attire designed for playing golf, often including a polo shirt, trousers, and golf shoes.
Milgram Obedience Studies
A series of social psychology experiments conducted by Stanley Milgram, demonstrating people's willingness to follow orders from an authority figure, even to the extent of causing harm to others.
Electric Shocks
Sudden discharges of electricity through a part of the body, used either as a therapeutic tool or as a result of accidental contact with electricity.
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