partnership liquidation

25. DDD, EEE and FFF are partners who share profits and losses 40:30:30 respectively. Below are the balances before liquidation: Cash 72,000 Other Assets 350,000 Accounts Payable 120,000 DDD, Capital 140,000 EEE, Capital 90,000 FFF, Capital 72,000 In the first month of liquidation, 60% of the other assets was sold. Liquidation expenses of P6,000 were paid, liabilities amounting to P32,400 were paid. The partners distributed cash available after setting aside P5,000 for future liquidation expenses. Partner DDD received P37,500 in the first month. Determine the following: a. Proceeds on the Sale of Asset and Gain or Loss on Realization b. Cash Restricted c. Restricted Interest d. Amount received by each partner