The following is the financial statement for Sarsar partnership. The profit/loss percentages for partners Same, Sameer, and Rana are 60%, 30%, and 10%, respectively, on 31/12/2020:

Assets	31/12/2020	L&CAPITALS	31/12/2020
Cash	70,000	account payable	250,000
account /rec.	90000	long term debit	550,000
		Debit to Same	50,000
Inventories	440,000	Same capital	600,000
plant assets	1040,000	Huda capital	300,000
intangible assets	210,000	Rana capital	100,000

The partners agree to admit salem for 15% interest of the partnership for 150,000 cash and recorded the admission on good will method and every old partner gave up 5% of his percentage.

After the admission the partners are differed between them and decided to solve the partnership. The agree to keep out 20,000$ for dissolving partnership expenses.

On January 31/2021 they sold all the account receivables for 60,000,

March 31/2021 sold all inventories for 320,000

April 30/2021sold 520,000$ of the planet assets for 400,000.

Required:

1. Prepare the entry to recorded salem admission
2. Prepare vulnerability ranking, losses absorption and cash distribution plane
3. Prepare cash distribution schedule
4. Distributed the available cash between according to the distribution schedule in 1/1/2021, 31/01/2021,31/03/2021,30/04/2021
5. Prepare statement of realization and liquidations with necessary entries assuming all other assets sold for 360,000 at 31/05/2021.