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The partrieis plan a program of plecemeal coliversion of assetts to minimire liquidation losses. An wrahiothe cash. less an iuncurd retained to provide for future expenses. Is to be distributed to the partneris at the erad of each morth. A simmary of the lavihasion fronsactions follows: January 201 1. Collected $51.000 on accounts recelvable; the balance is uncollectible. 2. Recelved $38,000 for the entire inventory. 3. Paid $2,000 llquidation expenses. 4. Paid $50,000 to crecitors, after offset of a $3,000 credit mernorandum recelved on January 11,201. 5. Retained $10,000 cash in the business at the end of the month for potential untecorded liabuties and anticipated expetses February 201 6. Paid \$4.000 liquidation expenses. 7. Retained $6,000 cash in the business at the end of the month for potential unrecorded thabities and anticipated expenses Morch 201 9. Paid 4 i. 000 liquidation expensins. 10 Perairied noicantrin the buvinens Requiredi Prepoere asstaternent of partree ship tiquidation for the paitnership wath schedules of sale poyments to pathens: 3 The partrieis plan a program of plecemeal coliversion of assetts to minimire liquidation losses. An wrahiothe cash. less an iuncurd retained to provide for future expenses. Is to be distributed to the partneris at the erad of each morth. A simmary of the lavihasion fronsactions follows: January 201 1. Collected $51.000 on accounts recelvable; the balance is uncollectible. 2. Recelved $38,000 for the entire inventory. 3. Paid $2,000 llquidation expenses. 4. Paid $50,000 to crecitors, after offset of a $3,000 credit mernorandum recelved on January 11,201. 5. Retained $10,000 cash in the business at the end of the month for potential untecorded liabuties and anticipated expetses February 201 6. Paid \$4.000 liquidation expenses. 7. Retained $6,000 cash in the business at the end of the month for potential unrecorded thabities and anticipated expenses Morch 201 9. Paid 4 i. 000 liquidation expensins. 10 Perairied noicantrin the buvinens Requiredi Prepoere asstaternent of partree ship tiquidation for the paitnership wath schedules of sale poyments to pathens: 3

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