Alex and Bess have been in partnership for many years. The partners, who share profits and losses on a 70:30 basis, respectively, wish to retire and have agreed to liquidate the business. Liquidation expenses are estimated to be $8,000. At the date the partnership ceases operations, the balance sheet is as follows: Cash Noncash assets $ 68,000 270,000 Liabilities Alex, capital Bess, capital $ 49,000 189,000 100,000 Total assets $ 338,000 Total liabilities and capital $ 338,000 t . ences Part A: Prepare journal entries for the following transactions that occurred in chronological order: a. Distributed safe cash payments to the partners. b. Paid $29,400 of the partnership's liabilities. c. Sold noncash assets for $289,000. d. Distributed safe cash payments to the partners. e. Paid remaining partnership liabilities of $19,600. f. Paid $6,300 in liquidation expenses; no further expenses will be incurred. g. Distributed remaining cash held by the business to the partners. Part B: Prepare a final statement of partnership liquidation. Complete this question by entering your answers in the tabs below. Required A Required B Prepare journal entries for the following transactions that occurred in chronological order: (Do not round inter entry is required for a transaction/event, select "No journal entry required" in the first account field.) a. Distributed safe cash payments to the partners. b. Paid $29,400 of the partnership's liabilities. c. Sold noncash assets for $289,000. entry is required for a transaction/event, select "No journal entry required" in the first account field.) a. Distributed safe cash payments to the partners. b. Paid $29,400 of the partnership's liabilities. c. Sold noncash assets for $289,000. d. Distributed safe cash payments to the partners. e. Paid remaining partnership liabilities of $19,600. f. Paid $6,300 in liquidation expenses; no further expenses will be incurred. g. Distributed remaining cash held by the business to the partners. View transaction list Journal entry worksheet 2 3 4 5 10 6 7 Record the initial distribution of available cash based on safe capital balance. Note: Enter debits before credits. Transaction a General Journal Debit Credit > 13 Record entry Clear entry View general journal < Prev 7 of Next >