Partnership Liquidation The statement of financial position of ABC Co. before the liquidation is as follows: Cash 40,000 Accounts Payable 60,000 Account Receivable 120,000 Payable B 40,000 Inventory 240,000 A, Capital (204) 200,000 Equipment 800,000 B, Capital (30%) 300,000 Acc. Depreciation 1200.DDD) Q, Capital (50% 400,DOD Total Assets 1,000 000 Total Liabilities & Equity 1 0 00,00 0 Case 1: Lump sum liquidation Assuming the non-cash assets were realized as follows: a. Of the total accounts receivable, only 100,000 were collected. b. The entire inventory was sold for 140,000. C. The equipment was sold for 500,000. d. 4,000 liquidation expenses were paid. Compute for the cash distributions to the partners