David, Paul, and Burt are partners in a CPA firm sharing profits and losses in a ratio of 2:2:3, respectively. Immediately prior to liquidation, the following balance sheet was prepared: 
Required:
Assuming the noncash assets are sold for $300,000, determine the amount of cash to be distributed to each partner. Complete the worksheet and clearly indicate the amount of cash to be distributed to each partner in the spaces provided. No cash is available from any of the three partners. 
Definitions:
Legal Relationship
A connection between entities or individuals that is recognized and enforceable by law.
Radio
A radio is a technology that uses radio waves to transmit information, such as sound, by systematically modulating properties of electromagnetic energy waves transmitted through space.
Contract Formation
The process of creating a legally binding agreement, typically involving offer, acceptance, consideration, and mutual consent among parties.
Self-Service Merchandising
A retail strategy where customers select products by themselves without direct assistance from staff, typically in grocery or department stores.
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