The H, I, and J partnership was about to enter liquidation with the following account balances: Cash:$90,000. Noncash asset:$300,000. Liabilities:$60,000. H's capital:$80,000. I's capital:$110,000. J's Capital:$140,000.

Estimated expenses of liquidation were $5,000. H, I, and J shared profits and losses in a ratio of 2:4:4. Before liquidating any assets, the partners determined the amount of cash for safe payments.

A. How should the amount of safe cash payments be distributed?

B. The noncash assets were then sold for $120,000, and the liquidation expenses of $5,000 were paid. How much of the $120,000 would be distributed to the partners? (Hint: Either a predistribution plan or a schedule of safe payments would be appropriate for solving this item.)