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Business partner 1 (from now on known as BP1) deposits a customer’s check for \$500 and takes \$500 cash. Business partner 2 (now knows as BP2) receives a notice that BP1’s customer’s check has bounced— and thus informs BP1 that he needs to reimburse the \$500 personally or recoup it from the customer who wrote the bad cheque in order to reimburse the business the missing \$500.
BP1 & BP2 split administrator costs of \$650 every 2 weeks; BP1-\$325, BP2-\$325
THE TWIST: BP1 has the customer whom wrote the bad cheque etransfer \$500 directly to the administrator— leaving \$150 still owed to the administrator.
QUESTION: How much does BP1 and BP2 each owe to the administrator at this point?
How much - if any - does BP1 still owe back to the business?
Thank you for your help - my brain has apparently turned off for the evening. This seems like it should be simple...
