Joel is a limited partner in the Snow Bird Limited Partnership. He invested $5,000 to buy his
interest. Joel is one of ten partners, two of whom are general partners. Snow Bird is now
insolvent, with debts exceeding assets by $96,000.
The partnership creditors sue all the partners
for these debts. How much additional money must Joel contribute?
A) $96,000 B) $9,600 C) $5,000 D) $0 E) $4,600
D
Business
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