The Catt, Dogg, and Eustus partnership was established by the partners early February 2008. The business was highly successful up till the year 2017. However, starting 2018, a downturn started due to economic and marketing factors causing sales to drop drastically and hence, the result of operations for the year 2018 was a $25,000 loss. On August 1, 2019, the partnership's balance sheet showed the following information before starting with the business liquidation: 

Liquidation events in august were as follows: - 

Receivables recorded at $120,000 were collected at $110,000; - I

nventory costing of $80,000 was sold at a loss of $20,000; - 

Plant assets were sold for $140,000 cash, resulting in a 40,000 gain. 

Required: 

Determine how the available cash on August 31, 2019 should be distributed.

Cash $ 80,000 Accounts payable $ 125,000 Accounts Receivable 160,000 Notes payable 70,000 Inventory 130,000 Loan from Dogg 5,000 Loan to Catt 10,000 Catt, capital (20%) 130,000 Loan to Eustus 15,000 Dogg, capital (20%) 95,000 Plant assets-net 210.000 Eustus, capital(60%) 180.000 Total assets $ 605.000 Total liab./equity $ 605.000