A partnership is considering possible liquidation because one of the partners $($Bell$)$ is personally insolvent. Profits and losses are divided on a $4$:$3$:$2$:$1$ basis, respectively. Capital balances at the current time areBell, capital$ $101,000$Hardy, capital$85,000$Dennard, capital$14,000$Suddath, capital$100,000$Bells creditors have filed a $$41,000$ claim against the partnerships assets. The partnership currently holds assets of $$500,000$ and liabilities of $$200,000.$ An independent appraiser indicates that the assets can be sold for $$290,000.$Required:Prepare a statement of partnership liquidation to determine the amount of cash that Bell would receive from the sale of partnership assets.Note: Amounts to be deducted should be entered with a minus sign.

A partnership is considering possible liquidation because one of the partners $($Bell$)$ is personally insolvent. Profits and losses are divided on a $4$:$3$:$2$:$1$ basis, respectively. Capital balances at the current time are

$02$:$37$:$48$

$\backslash$table$[[$Bell$,$ capital,$$101,000$