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5. A real estate partnership had the following condensed balance sheet prior to liquidation:

The percentages in parentheses after the partners’ capital balances represent their
respective interests in profits and losses. The following situations are independent of each
other unless otherwise stated:
1. If assets with a book value of $30,000 were sold for $20,000, how much of the available
cash could be distributed to Partner A?
2. If assets with a book value of $60,000 were sold for $70,000, how much of the available
cash could be distributed to Partner A?
3. Assume assets with a book value of $70,000 were sold for $50,000 and that all available
cash was distributed. For what amount would the remaining assets have to be sold in order
for Partner B to receive a total of $79,000 cash from all liquidation activities
6. Coleman, Moore, and Ramsey are partners in a business being liquidated. The
partnership has cash of $8,000, noncash assets with a book value of $96,000, and liabilities
of $63,000. The following information relates to the individual partners as of June 1, 20X7:

On June 15, 20X7, assets with a book value of $30,000 were sold for $20,000 cash.
The proceeds were used to pay off liabilities of the partnership. During the balance of June,
no additional assets were liquidated, and outside creditors began to pressure the partnership
for payment. On July 1, the partners agreed to contribute personal assets, to whatever extent
possible, in order to eliminate their respective capital deficits. Shortly thereafter, assets
with a book value of $20,000 and a fair value of $23,000 were distributed to Coleman.
Assuming additional noncash assets with a book value of $40,000 are sold in July
for$54,000, determine how available cash would be distributed.
REQUIREMENT: Prepare an Installment Liquidation Schedule and its corresponding
schedule of payments