A LTI Launch x Question 7 - Ch.15 Partnership II | X Course Hero + X (@ https://ezto.mheducation.com/ext/map/index.html?_con=conexternal_browser=0launchUrl=https%253A%252F%252Fconnect.mheducation.com%252Fconnect%252Fltiwrapper%252FltiaCloseWi... . . . Ch.15 Partnership II Homework Saved Help Save Exit Submit G Check my work 7 W y! Alex and Bess have been in partnership for many years. The partners, who share profits and losses on a 60:40 basis, respectively, wish to retire and have agreed to liquidate the business. Liquidation expenses are estimated to be $9,500. At the date the partnership 10 ceases operations, the balance sheet is as follows: points Cash $ 59, 000 Liabilities $ 44, 500 Noncash assets 180, 000 Alex, capital 108, 000 eBook Bess, capital 86, 500 in Total assets $ 239, 000 Total liabilities and capital $ 239, 000 Print References Required: Part A: Prepare journal entries for the following transactions that occurred in chronological order: a. Distributed safe cash payments to the partners. b. Paid $26,700 of the partnership's liabilities. W c. Sold noncash assets for $194,500. d. Distributed safe cash payments to the partners. e. Paid remaining partnership liabilities of $17,800. f. Paid $7,600 in liquidation expenses; no further expenses will be incurred. g. Distributed remaining cash held by the business to the partners. GW Part B: Prepare a final statement of partnership liquidation. Complete this question by entering your answers in the tabs below. Part A Part R + Mc Graw Hill 503 4 Men's Singles 12:38 AM Q Search hp ~ ENG # Q U Starting soon 10/5/2025