dissolution-needed at 4:00, PST

Problem 1. Partners Danica, Nicole, and Arphee share profits and losses in the ratio of 4:5:1. The account balances of the partnership is as follows: Cash P50,000 Inventory 360,000 Accounts Payable 150,000 Danica, Capital 160,000 Nicole, Capital 45,000 Arphee, Capital 55,000 a. The partnership will be liquidated in installments. As cash becomes available, it will be distributed to the partners. If the inventory costing P200,000 is sold for P140,000, how much should be distributed to Danica at this time? Use cash priority program. (2pts) b. The partnership will be liquidated in installments. As cash becomes available, it will be distributed to the partners. If the inventory costing P200,000 is sold for P140,000, how much should be distributed to Danica at this time? Use schedule of safe payments. (2pts)