On January 1, the partners 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 partnership's assets to minimize liquidation 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 liquidation transactions follows: January Collected $52,000 of the accounts receivable: the balance is deemed uncollectible. Received $39,000 for the entire inventory. paid $3,000 in liquidation expenses. paid $53,000 to the outside creditors after effetting a $4,000 credit memorandum received by the partnership on Januaxy 11. Retained $11,000 cash in the business at the end of January to cover 1iquidation expenses. The remainder is distributed to the partners. Prepare proposed schedule of liquidation to determine the safe payments made to the partners at the end of January. (Amounts to be deducted should be entered with a minus sign.)