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I need help with the setup on this please Problem 1-P14.15 Close Book and Prepare Cash Distribution Plan Arnold, Bell and Crane agree to liquidate

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I need help with the setup on this please

Problem 1-P14.15 Close Book and Prepare Cash Distribution Plan Arnold, Bell and Crane agree to liquidate their partnership as soon as possible. The partnership agreement calls for salaries of $50,000 and $70,000 for Arnold and Bell, respectively, any remaining profit or loss is divided in a 2:5:3 ratio. The preclosing trial balancce for the partnership at July 31, 2020, the end of the firm's fiscal year, is: Account Debit Credit Cash $ 95,000 Other Assets $ 350,000 Liabilities $ 114,000 Loan payable--Crane $ 36,000 Capital--Arnold $ 85,000 Capital--Bell $ 70,000 Capital--Crane $ 40,000 Sales $ 732,000 Operating Expenses $ 520,000 Drawings--Arnold $ 60,000 Drawings--Bell $ 27,000 Drawings--Crane $ 25,000 Total $1,077,000 $1,077,000 Required: a. Prepare a schedule showing the balances in the capital accounts prior to liquidation. b. Prepare a cash distribution plan for the liquidation. c. Compute the amount that must be realized from the other assets to liquidate the liabilities and drive all capital accounts to zero

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