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B. April, May and June are partners. The following balances are obtained prior to liquidation. April (50%) May (20%) June (30%) Capital Balances P 400,000 P 300,000 P 250,000 Loan (Receivables) Payables ( 50,000) 80,000 30,000 Assets are sold and cash is distributed to the partners in monthly installments. During the course of liquidation, cash made available to the partners are as follows: April P 200,000 May 350,000 June 250,000 3. What amount of cash was paid to May in the first month of liquidation? 4. How much did April receive in the last month of liquidation?A. Partners Red, White and Blue decided to liquidate their partnership. Their Statement of Financial Po shows the following: Assets Liabilities and Equity Cash P 500,000 Liabilities P 300,000 Noncash Assets 3,000,000 Red, Capital (30%) 1,100,000 White, Capital (40%) 1,350,000 Blue, Capital (30%) 750,000 Total Assets P3,500,000 Total Liabilities & Capital P 3,500,000 Red received P 800,000 cash in full settlement of his share in the partnership after payment of liquidation expenses of P 425,000