1l, the partners of Won, Cadel, and Dax (who shared pro tively) decided to liquidate their partnership. The trial balance a adel, and Dax (who shared profits and losses in the ratio of :3.2, Accounts Receivable S 23.400 85,800 67,600 245.700 Machinery an Won, loan Accounts payable Cadel, loan Won, capital Cadel, capit net S 68,900 26,000 153,400 117,000 96,200 capital Totals 461,500 $ 461500 The partners planned program All available cash, less at the end of each mo a program of piecemeal conversion of the business assets to minimize liquidation losses. an amount retained to provide for future expenses, was to be distributed to the partners cash, less nth. A summary of liquidation transactions follows: January $66,300 wasco le tedonthe accountsreceivable the balance wasdeemedto be uncollectible $49.400 was received for the entire iventory $2,600 in liquidation expenses were paid 565,000 was paid to outside creditors, after receiving a $3,900 credit meme from a creditor on January 11 Cash of $13,000 was retained at the end of the month to cover unrecorded liabilities and anticipated expenses The balance of cash was distributed to the partners $3,900 in liquidation expenses were paid $7.800 in cash was retained at the end of the month to cover unrecorded liabilities and anticipated expenses February $189,800 was received on the sale of all machinery and equipment. $6,500 in final liquidation expenses were paid No cash was retained as all cash was distributed to partners March 15. Prepare a schedule of liquidation for the partnership