Problem 4: Quan, Ray, Sen, and Tad are partners who share prots and losses 30%, 20%, 35%, and 15%, respectively. The partnership will be liquidated gradually over several months beginning January 1, 2006. The partnership trial balance at December 31, 2005 is as follows: Debits Credits Cash $3 ,000 Accounts receivable 10,000 Inventory 25,000 Loan to Ray 4,000 Furniture 15,000 Equipment 18,000 Goodwill 10,000 Accounts payable $12,000 Note payable 30,000 Loan from Sen 6,000 Quan, capital (30%) 12,000 Ray, capital (20%) 9,000 Sen, capital (35%) 12,000 Tad, capital (15%) 4 000 Totals $85,000 $85,000 Required: Prepare a cash distribution plan for January 1, 2006, showing how cash installments will be distributed among the partners as it becomes available