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 liquidate their partnership. The trial balance at this date follows:

	Debit	Credit
Cash	$ 42,000
Accounts receivable	114,000
Inventory	100,000
Machinery and equipment, net	237,000
Van, loan	78,000
Accounts payable		$ 96,000
Bakel, loan		68,000
Van, capital		195,000
Bakel, capital		114,000
Cox, capital		98,000
Totals	$ 571,000	$ 571,000

The partners plan a program of piecemeal conversion of the businesss 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 follows:

VAN, BAKEL, AND COX PARTNERSHIP
Safe Installment Payments to Partners
January 31
	Van		Bakel		Cox		Total
Profit and loss ratio		%		%		%		%
Capital balances - January 1
Add (deduct) loans
Adjusted capital balances - January 1
Allocation of January net loss
Capital balances - January 31
Potential loss
Subtotal
Allocation of deficit balances
Safe payments to partners - January 31

VAN, BAKEL, AND COX PARTNERSHIP
Safe Installment Payments to Partners
February 28
	Van		Bakel		Cox		Total
Profit and loss ratio		%		%		%		%
Capital balances - January 31
Safe payments - January 31
Capital balances - February 1
Allocation of February net loss
Capital balances - February 28
Potential loss
Subtotal
Allocation of deficit balances
Safe payments to partners - February 28

VAN, BAKEL, AND COX PARTNERSHIP
Safe Installment Payments to Partners
March 31
	Van		Bakel		Cox		Total
Profit and loss ratio		%		%		%		%
Capital balances - February 28
Safe payments - February 28
Capital balances - March 1
Allocation of March net loss
Capital balances - March 31
Final payments to partners - March 31
Ending balances - March 31