On January 1, 2015, the partners of Won, Cadel, and Dax (who shared profits and losses in the ratio of 5:3:2, respectively) decided to liquidate their partnership. The trial balance at this date was as follows: Debit Credit Cash F 23, 400 Accounts Receivable 85, 800 Inventory E7, 600 Machinery and 245, 700 equipment, net Hon, loan 39,000 Accounts payable 68, 900 Cadel, loan 26, 000 Won, capital 153, 400 Cadel, capital 117, 000 Dax, capital 96, 200 Totals F 461,500 461, 500 The partners planned a program of piecemeal conversion of the business assets to minimize liquidation losses. All available cash, less an amount retained to provide for future expenses, was to be distributed to the partners at the end of each month. A summary of liquidation transactions follows: January P66, 300 was collected on the accounts receivable; the balance was deemed to be uncollectible. 849, 400 was received for the entire inventory. P2, 600 in liquidation expenses were paid. 265, 000 was paid to outside creditors, after receiving a F3,900 credit memo from a creditor on January 11. Cach of P13, 000 was retained at the end of the month to cover unrecorded liabilities and anticipated expenses. The balance of cash was distributed to the partners. February P2, 900 in liquidation expenses were paid. P7, 800 in cash was retained at the end of the month to cover unrecorded liabilities and anticipated expenses. March P189, 800 was received on the sale of all machinery and equipment. P6, 500 in final liquidation expenses were paid. No cash was retained as all cash was distributed to partners. Quiz: 1. Prepare a schedule to calculate the safe installment payments to be made to the partners at the end of January. 2. Prepare a schedule to calculate the safe installment payments to be made to the partners at the end of February. 3. Prepare a schedule to calculate the safe installment payments to be made to the partners at the end of March