A partnership has the following account balances at the date of termination: Cash, $$100,000$; Noncash Assets, $$760,000$ : Liabilities.

$$474,000$; Alonso, capital $(50$ percent of profits and losses$),$ $$180,000$; Mann, capital $(30$ percent$),$ $$130,000$; Suzuki, capital $(20$

percent$),$ $$76,000.$ The following transactions occur during liquidation:

Noncash assets with a book value of $$600,000$ are sold for $$500,000$ in cash.

A creditor reduces his claim against the partnership from $$120,000$ to $$90,000,$ and this amount is paid in cash.

The remaining noncash assets are sold for $$130,000$ in cash.

The remaining liabilities of $$354,000$ are paid in full.

Liquidation expenses of $$24,000$ are paid in cash.

Cash remaining after the above transactions have occurred is distributed to the partners.

Required:

Prepare a statement of partnership liquidation to determine how much cash each partner receives from the liquidation of the

partnership.

Note: Amounts to be deducted should be entered with a minus sign.