Grackle, Buzzard, and Crow are partners sharing profits and losses 40/40/20 respectively. The business is doing poorly

[answerhappygod]

Grackle, Buzzard, and Crow are partners sharing profits and losses
40/40/20 respectively.


The
business is doing poorly, and they decide to go out of
business. Their balance





sheet is below:



















Cash





$200,000



Receivable from Grackle





100,000



Property & Equipment





550,000



















_______









$850,000












Property
& Equipment of $350,000 was sold for $250,000. They
estimate that liquidation



expenses will be $35,000.


















Prepare a
safe payment schedule after the assets are sold.