The partnership of Dee, Ema, Lyn, and Geo is being liquidated over the first few months of 2016. The trial balance at January 1, 2016, is as follows:

ADDITIONAL INFORMATION
1. The partners agree to retain $20,000 cash on hand for contingencies and to distribute the rest of the available cash at the end of each month.
2. In January, half of the receivables were collected. Inventory that cost $75,000 was liquidated for $45,000. The land was sold for $250,000.
REQUIRED:
Prepare a schedule of safe payments for the Dee, Ema, Lyn, and Geo partnership for January 31, 2016.

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Debits $200,000 56,000 142,000 300,000 150,000 20,000 Credits Cash Accounts receivable Inventory Equipment (net) Land Loan to Dee Accounts pavable Bec canpital (20%) Ema capital (10%) Lyn capital (50%) Geo capital (20%) $400,000 170,000 80,000 140,000 78,000 $868,000$868,000