A partnership has the following account balances at the date of termination: Cash, $80,000, Noncash Assets, $660,000 Liabilities, $320,000, Bell, capital (50 percent of profits and losses), $200,000; Mann, capital (30 percent). $120,000, Scott, capital (20 percent), $100,000. The following transactions occur during liquidation: Noncash assets with a book value of $500,000 are sold for $400,000 in cash A creditor reduces his claim against the partnership from $120,000 to $100,000, and this amount is paid in cash The remaining noncash assets are sold for $130,000 in cash The remaining liabilities of $200,000 are paid in full Liquidation expenses of $24,000 are paid in cash Cash remaining after the above transactions have occurred is distributed to the partners. Prepare a statement of partnership liquidation to determine how much cash each partner receives from the liquidation of the partnership (Amounts to be deducted should be entered with a minus sign.) . . BELL, MANN, AND SCOTT PARTNERSHIP Statement of Partnership Liquidation Noncash Bell, Capital Cash Liabilities Assets (50%) Mann, Capital (30%) Scott Capital (20%) Beginning balances Sale of noncash assets Pay liabilities Sale of remaining noncash assets Pay remaining liabilities Pay liquidation expenses Subtotal Distribution to partners Ending balances 5 0 $ 0$ 0 $ 0 $ 0 $ 0 $ $ 0 0 $ 0$ 0$ 0