Problem 14-9 (LO 8, 9, 10) Installment liquidation and unsatisfied partnership creditors. Prior to liquidation, the following information relates to the partnership: Partner- ship trial balance:

Problem 14-9 (18, 9, 10) Installment liquidation and unsatisfied partnership creditors. Prior to liquidation, the following information relates to the partnership: Partner- ship trial balance Partnership trial balance: Partner Cash $25,000 Other Assetsabilities Adams Beyer Chenery $240,000 $200,000 50,000 (10,000 $25,000 Profit and loss percentages 30% 30% 40% On June 30, other assets with a book value of $160,000 were sold for $120,000, and all available cash with the exception of $20,000 was used to reduce the partnership liabilities. At that time, partners with debit (deficit) capital balances were required to contribute additional capital to whatever extent possible. On July 28, the remaining assets of the partnership were sold for $10,000. Once again, partners with debit (deficit) capital balances were required to contribute additional capital to whatever extent possible. Net personal assets of the partners were as follows: Adams Beyer June 30 balances: Partner personal assets.... Partner personal liabilities. $44,000 36,000 $31,000 25,000 $52,000 30,000 July 28 balances: Partner personal assets.... Partner personal liabilities.. 30,000 22,500 22,000 7,000 49,000 27,000 at the unsatisfied partnership creditors first look to Adams for satisfaction and thenRequired to Chenery, determine the amount to be contributed by each partner to satisfy the creditors