A, B and Care partners decided to liquidate the partnership on December 31, 2019. All partners are personally insolvent. The firm's statement of financial position on this date is as follows: Assets...

Extracted text: A, B and Care partners decided to liquidate the partnership on December 31, 2019. All partners are personally insolvent. The firm's statement of financial position on this date is as follows: Assets Liabilities and Capital Cash 5,430 Accounts payable 12,892 Other assets 61,870 A, Loan 8,000 A, Capital(50%) 8, Capital(30%) C, Capital(20%) Total liabilities and capital 16,402 5,469 24,537 Total assets 67,300 67,300 The following data relate to the realization of other assets: Book value Cash realized Cash withheld Liquidation expenses January February 24,700 20,120 3,000 2,750 21,000 3,700 33,170 800 1,600 March 4,000 200 Requirement: Prepare the statement of liquidation and determine payment to partner for each month.