6) The balance sheet of the Park, Quid, and Reggie partnership on November 1, 2014 (before commencement of partnership liquidation) was as follows: Cash Accounts Receivable Loan to Park Loan to Reggie Plant assets-net Total assets $ 60,000 130,000 16,000 22,000 120,000 $ 348,000 Accounts payable Loan from Quid Park, capital (20%) Quid, capital (40%) Reggie, capital (40%) Total liab./equity Liquidation events in November were as follows: - All receivables were settled for $110,000; - Plant assets with a book value of $90,000 were sold for $52,000. $ 110,000 40,000 60,000 52,000 86,000 $ 348,000 Required: Determine how the available cash on November 30, 2014 should be distributed.

6) The balance sheet of the Park, Quid, and Reggie partnership on November 1, 2014 (before commencement of partnership liquidation) was as follows: Cash Loan to Park $ 60,000 Accounts Receivable 130,000 Accounts payable Loan from Quid $ 110.000 40,000 16,000 Park, capital (20%) 60,000 22,000 Quid, capital (40%) 52,000 120,000 Reggie, capital (40%) 86,000 $ 348,000 Total liab./equity $ 348,000 Loan to Reggie Plant assets-net Total assets Liquidation events in November were as follows: - All receivables were settled for $110,000; - Plant assets with a book value of $90,000 were sold for $52,000. Required: Determine how the available cash on November 30, 2014 should be distributed.