Dissolution of Partnership Assume that on 12/31/18, the partnership is dissolved. On that date, after closing the books, the following information is available Cash $160,000 Loan to Jane (Notes Receivable) $50,000 Other assets (PP&E) $700,000 Liabilities $110,000 Capital, John $200.000 Capital, Jane $400,000 Capital, Tom $200,000 Other information necessary for the liquidation is as follows: During the month of January 2019, assets with a book value of $180,000 were sold for $210,000. Other fixed assets turned out to have no value as of January 31, 2019. Prepare a schedule of safe payments as of January 31, 2019. Partnership of John, Jane, and Tom Schedule of Safe Payments January 31, 2019 Cash Notes PP&E Liabilities Capital, Capital, Capital Receivable John Jane Tom Balances before dissolution $160,000 $50,000 |$700,000 |$110,000 $200,000 $400,000 $200.000 Partner loans Sale of assets, January Payment of liabilities Loss on other assets