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NEED HELP ASAP!! On January 1, 20X1, partners Art, Bru, and Chou, who share profits and losses in the ratio of 6:3:1, respectively, decide to

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On January 1, 20X1, partners Art, Bru, and Chou, who share profits and losses in the ratio of 6:3:1, respectively, decide to liquidate their partnership. The partnership trial balance at this date follows: The partners plan a program of plecemeal conversion of assets to minimize liquidation losses, All avaifable cash, less an amount retained to provide for future expenses. is to be distributed to the partners at the end of each month A summary of the iquidation transactions foliows Jonuory 201 1. Collected $55,800 on accocints tecelvable. the boiance whe hisectible 1. Collected $55,800 on accounts receivable; the balance is uncollectible. 2. Received $41.600 for the entire inventory. 3. Paid $3.200 liquidation expenses. 4. Paid $51,600 to creditors, after offset of a $3.800 credit memorandum received on January 11,201 5. Retained $12,400 cash in the business at the end of the month for potential unrecolded liabilities and anticipated expenses. February 201 6. Paid \$5,200 liquidation expenses. 7. Retained $7.200 cash in the business at the end of the month for potential unrecorded liabilities and anticipated expenses March 201 8. Received $151.200 onsale of all items of machinery and equipment. 9. Paid $6,200 liquidation expenses. 10. Retained no cash in the business. Required: Prepore a statement of partnership liquidation for the partherstip with dchedules of nate payments to parties in: Round your onswers to nenrest whole dollar) Required: Prepare a statement of partnership liquidation for the partnership with schedules of sofe payments to partners. (Round your answers to neerest whole dollar.) AQC PARTHERSHP c Prev 4 of 5 Hith Next

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