Rick kleckner corporation recorded a right-of-use asset for $300,000 as a result of a finance lease on december 31, 2016. kleckner’s incremental borrowing rate is 8%, and the implicit rate of the lessor was not known at the commencement of the lease. kleckner made the first lease payment of $48,337 on on december 31, 2016. the lease requires 8 annual payments. the equipment has a useful life of 8 years with no residual value.

During a liquidation, a partner's capital account balance drops below zero. what should happen? select one: a. the deficit balance should be removed from the accounting records with only the remaining partners sharing in future gains and losses. b. the partner with a deficit should contribute enough assets to offset the deficit balance if he is solvent. c. the other partners should contribute enough assets to offset the amount of deficit if the partner with a deficit is insolvent. d. both b & c