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Nate, Amare and Howard share profits in the ratio of 5:3:2. The following balances are obtained prior to partnership liquidation: Nate Amare Howard Capital balances

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Nate, Amare and Howard share profits in the ratio of 5:3:2. The following balances are obtained prior to partnership liquidation: Nate Amare Howard Capital balances P 60,000 P 45,000 P 20,000 Loan balances 22,500 15,000 6.500 Assets are sold and cash is distributed to the partners in monthly installments during the course of liquidation as follows: September P 7.500 October 20.000 November 45.000 December (final distribution) 15.000 Requirements: 1. Prepare a program to show how cash should be distributed by the liquidator during the entire course of liquidation. 2. Using the program developed above, prepare schedules summarizing the payments to be made to partners at the end of each month

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