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The balance sheet of the Addy, Bess, and Clara partnership on January 1, 2014 (the date of partnership dissolution) was as follows: Cash $ 4,000

The balance sheet of the Addy, Bess, and Clara partnership on January 1, 2014 (the date of partnership dissolution) was as follows: Cash $ 4,000 Liabilities $ 8,000 Other assets 26,000 Loan from Addy 1,000 Loan to Clara 2,000 Addy, capital (20%) 2,000 Bess, capital (40%) 9,000 Clara, capital (40%) 12,000 Total assets $ 32,000 Total liab./equity $ 32,000 In January, other assets with a book value of $16,000 were sold for $10,000 in cash. Determine how the available cash on January 31, 2014 will be distributed. (Use a safe payments schedule.

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