The partners of Donald, Chief & Berry LLP decided to liquidate on August $1,2023.$ The balance sheet of the partnership is as follows, with the profit and loss ratio of $40\%,40\%$ and $20\%,$ respectively. The partners do not expect to incur further liquidation expenses.

DONALD, CHIEF, & BERRY LLP

Balance Sheet

August $1,2023$

Assets

Cash

Loan receivable from

Donald

Other assets

Total

Liabilities & Partners' Capital

$$60,000,$ Trade accounts payable $$130,00$

$0$

$40,000$ Loan payable to Chief $60,000$

$500,000$ Donald, capital $140,000$

Chief, capital

$160,000$

$110,{000}_{?}$

$$600,00$

Additional Information

Estimated liquidation expenses $$15,000$

A portion of the Other Assets with a carrying amount of $$200,000$ were sold for $$140,000,$

all available cash was distributed.

Required

a$.$ Develop a predistribition plan for this partnership

b$.$ Prepare a Statement of partnership liquidation

c$.$ Compute the safe payment after de other assets had been sold

d$.$ Prepare the journal entries of the transactions performed