Refer to the Facts in Question 46

Refer to the facts in Question 46.The partners have decided to liquidate their partnership by installments instead of accepting the offer of $180,000.Cash is distributed to the partners at the end of each month.A summary of the liquidation transactions follows:
October
1.$25,000 is collected on accounts receivable;balance is uncollectible.
2.$20,000 received for the entire inventory.
3.$1,500 liquidation expense paid.
4.$40,000 paid to creditors.
5.$10,000 cash retained in the business at the end of the month.
November
6.$2,000 in liquidation expenses paid.
7.As part payment of his capital,Nixon accepted an item of special equipment that he developed,which had a book value of $8,000.The partners agreed that a value of $12,000 should be placed on this item for liquidation purposes.
8.$4,000 cash retained in the business at the end of the month.
December
9.$150,000 received on sale of remaining plant and equipment.
10.$1,000 liquidation expenses paid.No cash retained in the business.
Required:
Prepare a statement of partnership realization and liquidation with supporting schedules of safe payments to partners.