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please show work ments schedule rship of Dee, Ema, Lyn, and Geo is being liquidated over the first few months of 2011 . The e
please show work
ments schedule rship of Dee, Ema, Lyn, and Geo is being liquidated over the first few months of 2011 . The e at January 1, 2011, is as follows: AL INFORMATION ters agree to retain $20,000 cash on hand for contingencies and to distribute the rest of the availat the end of each month. y, half of the receivables were collected. Inventory that cost $75,000 was liquidated for $45,000. was sold for $250,000. E17-10 safe payments schedule The partnership of Dee, Ema, Lyn, and Geo is being liquidated over the first few months of 2011. The trial balance at January 1, 2011, is as follows: ADDITIONAL INFOR MATION 1. The partners agree to retain $20,000 cash on hand for contingencies and to distribute the rest of the available cash at the end of each month. 2. In January, half of the receivables were collected. Inventory that cost $75,000 was liquidated for $45,000. The land was sold for $250,000. REQUIRED: Prepare a schedule of safe payments for the Dee, Ema, Lyn, and Geo partnership for January 31, 2011Step by Step Solution
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