5 On July 1, 2020 the partnership of John, Paul and George is liquidatng. The...
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5 On July 1, 2020 the partnership of John, Paul and George is liquidatng. The partners share income and losses in the ri of 2:1:2. Their financials include the following: cash $42,000, non cas are $107,000 and liabilities total $18,000. The partners cap are $61,000,$56,000, and $14,000 respectively. The non cash assets were sold for $63,000. The liabilities ar If any partner ends with a debit balances they must pay the amount owed to the partnerhsip. The remianing cash is distrubuted to the partners. Required .. prepare a liquidation schedule
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