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INSTALLMENT LIQUIDATION In May, part of the assets are sold at book value, P300,000. Gamba, Mulles and Mones Statement of Financial Position In June, the remaining assets April 30, 2019 are sold for P210,000. Assets Liabilities and Capital Assume that available cash is Cash P 315,000 Liabilities P 435,000 distributed to the proper Non-Cash Assets 1, 250,000 Mones, Loan 30 000 parties at the end of May and Gamba, Capital 600,000 Mulles, Capital 350,000 at the end of June. Assume Mones, Capital 150,000 further that partners are Total Assets P1,565,000 Total L C PL565,000 solvent and that any partner who is deficient made appropriate payment to the partnership on July 31