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:

January	Collected $75,000 of the accounts receivable; the balance is deemed uncollectible.
	Received $62,000 for the entire inventory.
	Paid $2,000 in liquidation expenses.
	Paid $74,000 to the outside creditors after offsetting a $3,000 credit memorandum received by the partnership on January 11.
	Retained $34,000 cash in the business at the end of January to cover any unrecorded liabilities and anticipated expenses. The remainder is distributed to the partners.
February	Paid $3,000 in liquidation expenses.
	Retained $22,000 cash in the business at the end of the month to cover unrecorded liabilities and anticipated expenses.
March	Received $170,000 on the sale of all machinery and equipment.
	Paid $5,000 in final liquidation expenses.
	Retained no cash in the business.

Prepare a schedule to compute the safe installment payments made to the partners at the end of each of these three months. (Do not round intermediate calculations. Amounts to be deducted should be indicated by a minus sign.)

VAN, BAKEL, AND COX PARTNERSHIP
Safe Installment Payments to Partners
January 31
	Van		Bakel		Cox		Total
Profit and loss ratio		%		%		%	0	%
Capital balances - January 1							$0
Add (deduct) loans							0
Adjusted capital balances - January 1	$0		$0		$0		$0
Allocation of January net loss							0
Capital balances - January 31	$0		$0		$0		$0
Potential loss							0
Subtotal	$0		$0		$0		$0
Allocation of deficit balances							0
Safe payments to partners - January 31	$0		$0		$0		$0

VAN, BAKEL, AND COX PARTNERSHIPSafe Installment Payments to PartnersFebruary 28VanBakelCoxTotalProfit and loss ratio%%%0%Capital balances - January 31$0Safe payments - January 310Capital balances - February 1$0$0$0$0Allocation of February net loss0Capital balances - February 28$0$0$0$0Potential loss0Subtotal$0$0$0$0Allocation of deficit balances0Safe payments to partners - February 28$0$0$0$0

VAN, BAKEL, AND COX PARTNERSHIPSafe Installment Payments to PartnersMarch 31VanBakelCoxTotalProfit and loss ratio%%%0%Capital balances - February 28$0Safe payments - February 280Capital balances - March 1$0$0$0$0Allocation of March net loss0Capital balances - March 31$0$0$0$0Final payments to partners - March 310Ending balances - March 31$0$0$0$0