On January 1, 20X1, partners Art, Bru, and Chou, who share profits and losses in the ratio of 6:2:2, respectlvely, 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 llquidation losses. All avallable 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 llquidation transactions follows: January 201 1. Collected $51,800 on accounts recelvable; the balance Is uncollectible. 2. Recelved $38,600 for the entire Inventory. 3. Pald $2,200 llquldation expenses. 4. Pald $50,200 to creditors, after offset of a $3,200 credit memorandum recelved on January 11,201. 5. Retained $10,400 cash in the business at the end of the month for potential unrecorded liabilitles and anticipated expenses. February 201 6. Pald $4,200 liquidation expenses. 7. Retained $6,200 cash in the business at the end of the month for potentlal unrecorded llabilitles and anticipated expenses. March 20X1 8. Recelved $146,800 on sale of all items of machinery and equipment. 9. Pald $5,200 llquidation expenses. o. Retalned no cash in the business. Required: Prepare a statement of partnership liquidation for the partnership with schedules of safe payments to partners. Note: Round your answers to nearest whole dollar. \begin{tabular}{|l|c|c|c|} \hline \multicolumn{4}{|c|}{ ABC PARTNERSHIP } \\ \hline \multicolumn{1}{|c|}{ Schedule of Safe Paymente to Partnera } \\ \hline & Art 60% & Bru 20% & Chou 20% \\ \hline Schedule 1: January 31, 20X1 & & & \\ \hline Capital balances & & & \\ \hline Polential Losses and Expenses & & & \\ \hline & & & \\ \hline Allocation of potential deficit & & & \\ \hline Safe payment, January 31, 20X1 & & & \\ \hline Schedule 2: February 27, 20X1 & & & \\ \hline Capital balances & & & \\ \hline Potential Losses and Expenses & & & \\ \hline & & & \\ \hline Allocation of potential deficit & & & \\ \hline Safe payment, February 27, 20X1 & & & \\ \hline \end{tabular}