E 17-3 Liquidation—Cash distribution Jamal, Abdul, and Mira decide to end their partnership on January 1, 2017. The partnership’s financial position at December 31, 2016, is as follows:

582 CHAPTER 17 Cash $100,000 Accounts payable $10,000 Inventories 20,000 Jamal capital (30%) 60,000 Equipment—net 60,000 Abdul capital (40%) 100,000 Other assets 50,000 Mira capital (30%) 70,000 Loan to Jamal 10,000

$240,000 $240,000 Inventory, Equipment—net, and Other assets are immediately sold for $65,000. A contingency fund of $10,000 is kept and the cash is to be distributed immediately. Jamal is bankrupt at the time of liquidation.

REQuIRED: Determine the amount of cash that should be paid to each partner.