Exercise 16-5 Your answer is partially correct. Try again. Following is the balance sheet of the BDO Partnership: Cash Accounts Receivable Inventory Equipment $12,000 42,000 30,000 54,000 $138,000 Liabilities Brink, Capital Davis, Capital Olsen, Capital $19,000 45,000 29,000 45,000 $138,000 The partners share income 40:40:20, respectively. Assume that 70% of the receivables are collected and that inventory with a book value of $14,000 is sold for $10,000. All cash available at this time is to be distributed. Determine the proper distribution of cash, using the safe payment approach. (Round answers to 0 decimal places, e.g. 5,125. Enter credit balance of an account and credit posting to an account with negative sign preceding the number, e.g. -45 or parentheses, e.g. (45).) Noncash Assets Brink 40% Capital Balances Davis 40% Olsen 20% Cash Liabilities Account Balances 12000 126000 (19000) (45000) (29000) (45000) X Sale of Inventory, Collect Accounts Receivable 41500 (45500) 16000 16000 800 53500 80500 (19000) (43400) (27400) (44200) X Payment to Creditors (19000) 0 (19000) 0 X 34500 80500 0 (43400) (27400) (44200) X X Payment to Partners (34500) 0 0 8000 26500 x 0 80500 (35400) (27400) (17700)