The trial balance of the NOT Partnership on April 30, 20X1, is presented below. The profit and loss percentages are shown in the trial balance:

The partnership is being liquidated. Liquidation activities are as follows:

Cash is distributed at the end of each month, and the liquidation is completed by July 31. 20X1. No interest accrues on Otter's loan during the liquidation.
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Prepare a statement of partnership realization and liquidation for the NOT Partnership with schedules of safe payments to partners.

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Cash Accounts Receivable (net) Inventory Plant Assets (net) Accounts Payable Otter, Loan Debit Credit $ 15.000 85,000 82.000 120,000 $ 90,000 15.000 Nate, Capital (60%) 80.000 Otter, Capital (20%) 57,000 Trin. Capital (20%) 60,000 Total $302.000 $302.000