The paste of Abby Bob and Care was dissolvet on December 31, 2020 The tr ance at that cle is shown below Cashi Accunt recevable entory Land Building (net) Loan to Bub Accounts payable Abby capital 000 Bob capital (50) Carle capital (20) Fotals Debit Credit $54,000 55.000 56.000 80,000 100,000 25,000 110,000 145.000 165,000 50.000 420.000 420.000 Additional information on transaction occurred in December 31 1. The partners agree to retain $18,000 cash on hand for contingencies and to distribute the rest of the available cash at the end of month 2. Building with a book value of $55,000 was sold for $62,000 and inventory that cost $29,000 was sold for $25,000 REQUIRED a) Prepare a schedule of safe payments for the partnership of Abby, Bob and Carle for December 2020 18Marks bi Determine how the available cash on December 2020 will be distributed based on order of payment 12 Marks Cash Question 10 Not yet answered Marked out of 1000 The partnership of Abby, Bob and Carle was dissolved on December 31, 2020. The trial balance at that date is shown below Credit Debit $54,000 Flag question Account receivable 55,000 Inventory 56,000 Land 80,000 Building (net) 100,000 Loan to Bob 25,000 Accounts payable 110,000 Abby capital (30%) 145,000 Bob capital (50%) 165,000 Carle capital (20%) 50,000 Totals 420,000 420,000 Additional information on transaction occurred in December 31 1. The partners agree to retain $18,000 cash on hand for contingencies and to distribute the rest of the available cash at the end of month 2. Building with a book value of $55,000 was sold for $62,000 and inventory that cost $29,000 was sold for $25,000 Finish attempt XCOBO OURED REQUIRED: a) Prepare a schedule of safe payments for the partnership of Abby, Bob and Carle for December 2020. [8 Marks] b) Determine how the available cash on December 2020 will be distributed based on order of payment. [2 Marks]