Partners in the ABCD Partnership decided to dissolve their partnership. On that date, the partners had the following pre-liquidation capital balances:

Partner A	$28,000
Partner B	41,000
Partner C	18,000
Partner D	12,000

A, B, C, and D share residual profits and losses in a 4:3:2:1 ratio.

Liabilities at the date of dissolution total $100,000, and noncash assets equal $105,000. During the first month of liquidation, assets having a book value of $55,000 were sold for $31,000. During the second month, assets having a book value of $32,000, were sold for $28,000. During the third month, the remaining unsold assets were determined to be worthless. The partners receive the maximum allowable payment at the end of each month. Prepare an installment liquidation schedule along with supporting safe payment schedule

				40%	30%	20%	10%
Debit (Credit)		Noncash		Partners' Capital Accounts
	Cash	Assets	Liabilities	A	B	C	D
Balance prior to liquidation
Sale of noncash assets in month #1
Installment distrib to Partners #1
Sale of noncash assets in month #2
Installment distrib to Partners #2
Write off noncash assets in month #3
Pay creditors
Post-liquidation balances	0	0	0	0	0	0	0