The following is the financial statement for SHR partnership. The profit/loss percentages for partners Same, HUDA, and Rana are 60%, 30%, and 10%, respectively, on 31/12/2019:

Assets	31/12/2019	L&CAPITALS	31/12/2019
Cash	35,000	account payable	125,000
account /rec.	45,000	long term debit	275,000
		Debit to Same	25,000
Inventories	220,000	Same capital	300,000
plant assets	520,000	Huda capital	150,000
intangible assets	105,000	Rana capital	50,000

The partners agree to admit salem for 15% interest of the partnership for 75,000 cash and recorded the admission on good will method and every old partner his percentage will decreased by 5%.

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 31/2020 they sold all the account receivables for 30,000,

March 31/2020 sold all inventories for 160,000

April 30/2020 sold 260,000$ of the planet assets for 200,000.

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 1/1/2020, 31/01/2020,31/03/2020,30/04/2020
5. Prepare statement of realization and liquidations with necessary entries assuming all other assets sold for 180,000 at 31/05/2020.