Amarillo company experienced the following events during its first accounting period. (1) purchased $5,000 of inventory on account under terms 1/10/n30. (2) returned $1,000 of the inventory purchased in event 1. (3) paid the remaining balance in account payable within the discount period for the inventory purchased in event 1. based on this information, which of the following shows how the recognition of the cash discount will affect the company’s financial statements. rev: 11_03_2016_qc_cs-68627 picture picture picture picture

The partnership of douglas, ryan, and ellen has dissolved and is in the process of liquidation. on july 1, 2016, just before the second cash distribution, the assets and equities of the partnership along with profit and loss sharing ratios were as follows: cash $30,000receivable - net $20,000inventories $25,000equipment - net $30,000total assets $80,000liabilities $12,000douglas, capital (20%) $28,000ryan, capital (50%) $24,000ellen, capital (30%) $16,000total liab./equity $80,000assume that the available cash is distributed immediately, except for a $2,000 contingency fund that is withheld pending complete liquidation of the partnership. how much cash should be paid to each of the partners? a. $3,200 douglas, $8,000 ryan, $4,800 ellenb. $5,600 douglas, $14,000 ryan, $8,400 ellenc. $16,000 douglas, $0 ryan, $0 ellend. $8,000 douglas, $0 ryan, $8,000 ellen