On January 1, the partiners of Van, Bakel, and Cox (who share profits and losses in the ratio of 5:3:2, respectively) decide to terminate operations and liquidate their partnership. The trial balance at this date follows: The partners plan a program of plecemeal conversion of the parthership's assets to minimize liquidation losses. Al avaliable 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 liquidation transactions follows: January Collected $53,000 of the accoants receivable; the balance in deened uneollectible. Received 540,000 for the entire inventory. Paid 54,000 in Ilquidation expenses. Faid 556,000 to the outaide ereditora after offsetting a 55,000 eredit nesoranduan received by the partnerahip on January 11. Retained 512,600 caah in the businens at the end of Jansary to cover Hiquidation expensea. The remainder in distribied to the partnera. February Paid 35,000 in liquldat ion expenees. Fotained $5,000 casb in the buainess at the end of the month to eover additional ifquidation expensell. Hazeh Received $249,000 on the nale of all maehinery and equipnent. Received $148,000 on the sale of ald nachinery and equipment. Paid $7,000 in final 11qaidation expenses. Hetained no caoh in the bosinesa. Prepare proposed schedules of liquidation on January 31, February 28, and March 31 to determine the safe payments made to the partners at the end of each of these three months. Complete this question by entering your answers in the tabs below. Prepare proposed schedule of liquidation to determine the safe payments made to the partners at the end of lanuary. (Amounts to be deducted should be entered with a minus sign.)