The ABC Partnership decided to terminate its affairs as of December 31, 2018. The following information is taken from the balance sheet that was prepared as of the date of termination:

Assume that 60% of the noncash assets were sold for $450,000 and that 40% of the liabilities were paid at the first stage of liquidation. All other assets and liabilities were settled at the second stage. Prepare a safe payment schedule assuming that all partners are insolvent. Show all computations. (Do the 1^st stage of liquidation only). Hint: In the safe payment schedule, allocate any partners deficit to the other partner(s) capital.