The partnership of Fox, Gold, and Hare has asked you to assist it in winding up the affairs of the business. You compile the following information.

1. The trial balance of the partnership on June \(30,20 \times 1\). is:

2. The partners share profits and losses as follows: Fox, 50 percent; Gold, 30 percent; and Hare, 20 percent.
3. The partners are considering an offer of \(\$ 100,000\) for the accounts receivable, inventory, and plant and equipment as of June 30 . The \(\$ 100.000\) will be paid to creditors and the partners in installments, the number and amounts of which are to be negotiated.
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Prepare a cash distribution plan as of June 30, 20X1, showing how much cash each partner will receive if the offer to sell the assets is accepted.

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Cash Accounts Receivable (net) Inventory Debit $ 6.000 Credit 22.000 14.000 Plant and Equipment (net) 99.000 Loan to Fox 12.000 Loan to Hare Accounts Payable 7.500 $ 17.000 Fox, Capital 67.000 Gold. Capital 45.000 Hare. Capital 31.500 Total $160.500 $160.500