Schedule of Liquidation Capital Balance Cash + Inventory - A/P = Maness + Joiner Pre-liquidation balance 15 40 15 10 30 Sold invnetory 10 (20) (4) (6) Updated balance 25 20 15 6 24 Paid A/P (10) (10) Updated balance 15 20 20 5 6 24 Updated balance The rest of the inventory was sold for $15,000. The remaining accounts payable were paid. Updated balance Post-liquidation balance 0 0 0 0 0 All should be zero!!