P $17-6$

Installment 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:

$\backslash$table$[[,$Debit,Credit$],[$Cash$,$$$15,000,],[$Accounts receivable,$20,000,],[$Inventories$,65,000,],[$Land$,50,000,],[$Buildings$,100,000,],[$Accumulated depreciation$$buildings$,,],[$Furniture and fixtures,$50,000,$$$40,000$