Partnership Liquidation—Safe Payments Several years ago, Ann Dennis, Jill Edwards, Lee Lacy, and Sarah Ingram formed...

$25,000 Cash Availabe in Nov Month- Opening Balance of Cash On sale of half of fixture On sale of euipment $ 18,000 $21,000 $64,000 Loss on Sale in Nov Month Sale of Fiture (25000-18000) sale of Equipment(30000-21000) $7,000 $9,000 $ 16,000 Cash Availabe in Dec Month- Sale of Supplie Sale of Equipment Sale of Fixture $ 16,000 $ 105,000 $8,000 $ 129,000 ($ 60.700) $68,300 payment to creditor Loss on Sale in Dec Month Sale of Fiture (25000-8000) Sale of Supplie (20000-16000) $ 17,000 $4,000 $21,000 Cash Availabe in Jan Month- Euipment sold payment to loan ingram $ 25,000 ($15,000) $10,000 Loss on Sale in Jan Month sale of Equipment(40000-25000) $15,000 $15,000 Particular capital Loss of Nov Dennis Capital $62,000 $3,200 $ 58,800 $4,200 $54,600 $3,000 $51,600 Edward-capital $54,000 $4,800 $49,200 $6,300 $42,900 $4,500 $38,400 Lacy-capital $22.000 $1,600 $20,400 $2,100 $18,300 $1,500 $16,800 Loss of Dec Ingram- capital $56,300 $6,400 $49,900 $8,400 $41,500 $6,000 $35,500 Loss of Jan Cash Distibution Dennis Ingram November December January Edwards $21,106.00 $ 17,660.12 $23,707.44 $18,627.27 $3,626.14 $2,698.52 $7,322.49 $7,945.90 $1,180.60 $ 17,911.39 $ 18,019.39 $2,494.73