Assume the same information as in QS 12 14 except that the Equipment was sold for $85,000 on April 1, 2014 Prepare the journal entry to record the final distribution ofcash Accum Deprec Sam, Andrews, Mary, Cash Equipment Equipment Capital Capital Capital Account balances immediately prior to liquidation 52,0 515,053600 865000 34,00 32,000 $151,000 $36,000 $65,000 $48,000 $34,000

Question: Assume the same information as in QS 12-14 except that the Equipment was sold for $85,000 on April 1, 2014. Prepare the journal entry to

Assume the same information as in QS 12-14 except that the Equipment was sold for $85,000 on April 1, 2014. Prepare the journal entry to record the final ofcash.

Accum. Deprec. Sam, Andrews, Mary, Cash Equipment Equipment Capital Capital Capital Account balances immediately prior to liquidation. 52,0 515,053600 865000 34,00 32,000 $151,000 $36,000 $65,000 $48,000 $34,000

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