acc problem

Project Description:

the balance sheet of the addy, bess, and clara partnership on january 1, 2011 (the date of partnership dissolution) was as follows:

cash $ 4,000 liabilities $ 8,000
other assets 26,000 loan from addy 1,000
loan to clara 2,000 addy, capital (20%) 2,000
bess, capital (40%) 9,000
clara, capital (40%) 12,000
total assets $ 32,000 total liab./equity $ 32,000

in january, other assets with a book value of $16,000 were sold for $10,000 in cash.

required:
determine how the available cash on january 31, 2011 will be distributed. (use a safe payments schedule.)
also, prepare a cash distribution plan.

need this problem within the hour!
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Project Stats: Edited

Price Type: Fixed

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