A partnership held three assets:

Cash 60,000

Land 48,000

Building 63,000

Liabilities 33,000

The partners decided to dissolve the business and anticipated that expenses required to liquidate their partnership would amount to 5,000

Capital balances were as follows:

King, capital 36,000

Murphy, capital 48,000

Madison, capital 30,000

Pond, capital 24,000

The partners shared profits and losses 40:30:20:10 respectively.

The cash on hand was used to pay the liabilities. Any remaining cash in excess of the amount needed for anticipated liquidation expenses was immediately distributed to the partners.

a. What is the total amount of cash that was immediately available to be distributed to the partners?

b. The cash (in item a.) was distributed to each partner in single payment. Show the total payment amount to each partner. (Show the amount of the single check that was written to each partners.) Support your answer with a prescription plan (or schedule)