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	$	21,000
Accounts receivable		72,000
Inventory		58,000
Machinery and equipment, net		195,000
Van, loan		36,000
Accounts payable			$	65,000
Bakel, loan				26,000
Van, capital				121,000
Bakel, capital				93,000
Cox, capital				77,000
Totals	$	382,000	$	382,000

The partners plan a program of piecemeal conversion of the partnerships 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 $54,000 of the accounts receivable; the balance is deemed uncollectible.
	Received $41,000 for the entire inventory.
	Paid $5,000 in liquidation expenses.
	Paid $59,000 to the outside creditors after offsetting a $6,000 credit memorandum received by the partnership on January 11.
	Retained $13,000 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 $6,000 in liquidation expenses.
	Retained $6,000 cash in the business at the end of the month to cover unrecorded liabilities and anticipated expenses.
March	Received $149,000 on the sale of all machinery and equipment.
	Paid $8,000 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.

VAN, BAKEL, AND COX PARTNERSHIP Safe Installment Payments to Partners January 31 Total Van Bakel Cox 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 Total Bakel Cox Profit and loss ratio Capital balances - January 31 Safe payments- January 31 Capital balances-February 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 Total Van Bakel Cox 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