The JJ Partnership is liquidated when the ledger shows:

Joseph and Julian income ratios are $3$:$2,$ respectively.

Prepare a schedule of cash payments, assuming that the noncash assets were sold for $$66,500.$ Assume that any partner's capital

deficiencies cannot be paid to the partnership. $($If an amount reduces the account balance then enter with a negative sign preceding the

number e$.$g$.-15,000$ or parentheses e$.$g$.(15,000).)$

JJ Partnership

Schedule of Cash Payments