Exercise 16-5 Your answer is partially correct. Try again. Following is the balance sheet of the BDO Partnership: Cash Accounts Receivable Inventory Equipment $8,000 40,000 31,000 62,000 $141,000 Liabilities Brink, Capital Davis, Capital Olsen, Capital $20,000 47,000 29,000 45,000 $141,000 The partners share income 40:40:20, respectively. Assume that 70% of the receivables are collected and that inventory with a book value of $14,000 is sold for $9,000. All cash available at this time is to be distributed. Determine the proper distribution of cash, using the safe payment approach. (Round answers to 0 decimal places, e.g. 5,125. Enter credit balance of an account and credit posting to an account with negative sign preceding the number, parentheses, e.g. (45).) Noncash Assets Brink 40% Capital Balances Davis 40% Olsen 20% Cash Liabilities Account Balances 8,000 133,000 $L -20,000 -47,000 -29,000 -45,000 Sale of Inventory, Collect Accounts Receivable 37,000 -42,000 2,000 2,000 1,000 45,000 91,000 -20,000 -45,000 -27,000 -44,000 Payment to Creditors -20,000 20,000 25,000 91,000 -45,000 -27,000 -44,000 X X Payment to Partners -25,000 2,360 0 22,680 X 91,000 -42,640 -27,000 -21,320