After working for In the Kitchen remodeling business for several years, Terry and Phyllis decided to go into business for themselves and formed the Kitchens Just for You partnership. Three years ago, they admitted Connie as a partner and recognized goodwill at that time because of her good client list for planned kitchen makeovers. However, they were not able to gain a sufficlent market for new customers and on September 1,20X9, they agreed to dissolve and liquidate the business. They decided on an Installment IIquidation to complete the projects already Initiated. The balance sheet, with profit and loss-sharing percentages at the beginning of Iiquidation, Is as follows: Connie's Ioan was for working capital; the loan to Terry was for his unexpected personal medical bills. During September 209, the first month of Iiquidation, the partnership collected $43,000 in recelvables and decided to write off $11,000 of the remaining recelvables. Sales of one-half of the book value of the Inventory reallzed a loss of $5,000. The partners estimate that the costs of IIquidating the business (newspaper ads, signs, etc.), are expected to be $7,000 for the remainder of the liquidation process. Required: Prepare a schedule of safe payments to partners as of September 30,209, to show how the avallable cash should be distributed to the partners. Please follow the practical guidelines when completing this worksheet. \begin{tabular}{|c|c|c|c|} \hline \multicolumn{4}{|c|}{ KITCHENS JUST FOR YOU } \\ \hline \multicolumn{4}{|c|}{ Schedule of Safe Payments to Partners } \\ \hline & Terry & Phyllis & Connie \\ \hline \multicolumn{4}{|l|}{ Capital balances, September 1, 20X9 } \\ \hline \multicolumn{4}{|l|}{ Loans to (from) partner } \\ \hline \multicolumn{4}{|l|}{ Total } \\ \hline \multicolumn{4}{|l|}{ Write-off of goodwill } \\ \hline \multicolumn{4}{|l|}{ Write-off of receivables } \\ \hline \multicolumn{4}{|l|}{ Loss on sale of inventory } \\ \hline \multicolumn{4}{|l|}{ Capital balances, September 30,209} \\ \hline \multicolumn{4}{|l|}{ Possible loss for remaining receivables and inventory } \\ \hline \multicolumn{4}{|l|}{ Possible liquidation costs } \\ \hline \multicolumn{4}{|l|}{ Balances } \\ \hline \multicolumn{4}{|l|}{ Distribute any potential deficits } \\ \hline Safe payments to partners, September 30,209 & & & \\ \hline \end{tabular}