Janna, Janno, and Janni are partners in JJJ partnership. They share profit or loss in the ratio of 5:3:2. Unable to agree on certain matters, the partners decided to liquidate their partnership. Prior to liquidation, the following balances were available:

Cash	P200,000
Non-cash assets	800,000
Liabilities	400,000
Loan Payable to Kong	50,000
Janna, Capital	300,000
Janno, Capital	150,000
Janni, Capital	100,000

The liquidation that took several months had the following results:

	Amounts Realized - net of liquidation expense	Book value of the Non-cash assets sold
January	P460,000	P400,000
February	220,000	300,000
March	140,000	100,000

Required:

Prepare a statement of liquidation supported by schedule of safe payment when appropriate. After payment of liabilities to outside creditors, assume that available cash is distributed to the partners.

Note: Use excel