Adams, Peters, and Blake share profits and losses for their APB Partnership in a ratio of 2:3:5. When they decide to liquidate, the balance sheet is as follows:
Assets Liabilities and Equities
Cash $ 49,000 Liabilities $ 45,500 Adams, Loan 11,800 Adams, Capital 64,900 Other Assets 218,000 Peters, Capital 88,500 Blake, Capital 79,900 Total Assets $ 278,800 Total Liabilities & Equities $ 278,800 Liquidation expenses are expected to be negligible. No interest accrues on loans with partners after termination of the business.Required:
Prepare a cash distribution plan for the APB Partnership. Please follow the practical guidelines when completing this worksheet.