Cash is distributed to the partners at the end of each month with $5000 retained

Cash is distributed to the partners at the end of each month with $5000 retained for possible contingencies in the liquidation process.During January 2011 Jason agreed to offset his capital balance with his loan from the partnership $25000 was collected on the accounts receivable and the balance is determined to be uncollectible. Liquidation expenses of $2000 were paid.During February 2011 $18000 was collected from the sale of inventories and $90000 collected from the sale of equipment. Additional liabilities of $3000 were discovered and $2000 of liquidation expenses were paid. All cash was then distributed in a final liquidation.REQUIREDPrepare a statement of partnership liquidation with supporting safe payments schedules for each cash distribution.