On January 1 , the partners of Van, Bakel, and Cox (who share profits and losses in the ratio of 5:32, 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 partnership's assets to minimize liquidation losses. All available 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 foliows: January Collected $51,000 of the accounts recelvable; the balance is deened uncollectible. Recelved $45,600 for the entire inventory. Paid 54,000 in 1tquidetion expenses. Paid $68,009 to the outside creditors after offsetting a $5, 000 credit meingranfue liquidation transactions follows: January Collected $51,000 of the accounts receivable; the balance is deemed uncollectible. Received $48,000 for the entire inventory. Paid $4,000 in liquidation expenses. Paid $88,690 to the outside creditors after offsetting a $5,000 credit nemorandum received by the partnership on January 11 . Retained $20,600 cash in the business at the end of January to cover liquidation expenses. The remainder is distributed to the partners. February Paid $5,000 in 1iquidation expenses. Retained $8,000 cash in the business at the end of the month to cover additional liquidation expenses. March Received $156,600 on the sale of a11 machinery and equipment. Paid 57,000 in final 1iquidation expenses. Retained no cash in the business. 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