3. The partnership of Yaixa, Yarinet, and Jesmarie has the following trial balance on September 30, 2013: Debit Credit Cash
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3. The partnership of Yaixa, Yarinet, and Jesmarie has the following trial balance on September 30, 2013:
Debit Credit
Cash 20,000
Accounts Receivable (net) 35,000
Inventory 40,000
Plant and Equipment (net) 215,000
Accounts Payable 45,000
Yaixa, Capital 120,000
Yarinet, Capital 90,000
Jesmarie, Capital 55,000
310,000 310,000
The partners share profits and losses as follows: Yaixa, 50 percent; Yarinet, 30 percent; and Jesmarie, 20 percent.
Required: Prepare a cash distribution plan as of September 30, 2013.
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