At November 30, the remaining assets, liabilities, and equity of the TDF Associates partnership had the balances that appear in the following liquidation table, as account balances prior to liquidation. The partners of TDF Associates share profit and losses on a 3:2 basis, respectively. The partners proceed with liquidating assets and paying off liabilities to wind up the partnership on November 30. The equipment is sold for $9,800 and the accounts payable are paid off and the remaining cash is given to the partners as a final distribution. Complete the liquidation schedule with the necessary information. Where no entry is needed, leave the space blank. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

TDF Associates Liquidation Schedule November 30

Assets

= Liabilities +

Partners' Capital

Cash

Equipment

Acc. Depr. Equipment

Accounts Payable

H. Treff Capital

J. David Capital

Total Capital

Account balances prior to liquidation

$6,500

$35,100

$31,800

$8,800

$400

$600

$1,000

Sale of assets and share of gain

Balances

Payment of liabilities

Balances

Distribution of cash to partners

Final balances