can you please please show work. p176 mstallment liquidation Jon, Sam, and Tad...
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can you please please show work.
p176 mstallment liquidation Jon, Sam, and Tad are partners in a furniture store that began liquidation on January 1, 2011, when the ledger contained the following account balances: The following transactions and events occurred during the liquidation process: January Inventories were sold for $20,000 cash, collections on account totaled $14,000, and half of the amount due to creditors was paid. February Land costing $40,000 was sold for $60,000, the remaining land and buildings were sold for $40,000, half of the remaining receivables were collected, and the remainder was uncollectible. March Furniture and fixtures were written off. The remaining liabilities were paid, and available cash was distributed to the partners in final liquidation. REQUIRED: Prepare a statement of liquidation for the Jon, Sam, and Tad partnership
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