Adams, Peters, and Blake share profits and losses for their APB Partnership in a ratio of 2:3:5. When they decide to liquidate, the balance sheet is as follows: Cash Adams, Loan Other Assets Total Assets Assets $ 48,000 11,600 216,000 $ 275,600 Balances Adam's loan write-off Sale of assets Payment to creditors Liabilities and Capital Liabilities Adams, Capital Peters, Capital Blake, Capital Total Liabilities and Equities Liquidation expenses are expected to be negligible. No interest accrues on loans with partners after termination of the business. During the liquidation process for the APB Partnership, the following events occurred: 1. During the first month of liquidation, noncash assets with a book value of $89,000 were sold for $67,500, and $22,000 of the liabilities were paid. 2. During the second month, the remaining noncash assets were sold for $80,500. The loan receivable from Adams was collected, and the rest of the creditors were paid. 3. Cash is distributed to partners at the end of each month. Cash Required: Prepare a statement of partnership realization and liquidation with a schedule of safe payments to partners for the liquidation period. Please follow the practical guidelines when completing this worksheet. $ 46,000 63,800 87,000 78,800 $ 275,600 APB PARTNERSHIP Statement of Partnership Realization and Liquidation Installment Liquidation Adams, Loan Noncash Assets Liabilities Adams Capital Peters Blake

Adams, Peters, and Blake share profits and losses for their APB Partnership in a ratio of 2:3.5. When they decide to liquidate, the balance sheet is as follows: Liquidation expenses are expected to be negligible. No interest accrues on loans with partners after termination of the business. During the liquidation process for the APB Partnership, the following events occurred: 1. During the first month of liquidation, noncash assets with a book value of $89,000 were sold for $67,500, and $22,000 of the liabilities were paid. 2. During the second month, the remaining noncash assets were sold for $80,500. The ioan receivable from Adams was collected, and the rest of the creditors were paid. 3. Cash is distributed to partners at the end of each month. Required: Prepare a statement of partnership realization and liquidation with a schedule of safe payments to partners for the liquidation period. Please follow the practical guidelines when completing this worksheet