leyPLUS Weygandt, Accounting Principles, 12e e Read, Study & Practice Assignment Gradebook ORION Downloadable eTextbook nment Open Assignment Problem 12-3A The partners in Crawford Company decide to liquidate the firm when the balance sheet shows the following CRAWFORD COMPANY Balance Sheet May 31, 2017 Liabilities and ers Equity $13,600 27,500 4,500 33,000 21,250 2,550 $102,400 $29,100 Notes payable Accounts receivable Allowance for doubtful accounts Inventory Equipment Accumulated depreciation-equipment 25,300 Accounts payable (1,500) Salaries and wages payable 34,900 A. Jamison, capital 20,600 S. Moyer, capital (6,000) P. Roper, capital Total $102,400 Total the following transactions were compieted in the folowing sequence. The partners share income and loss s:3-2. During the process of liquidation, 1. A total of $53,750 was received from converting noncash assets into cash. 2. Gain or loss on realization was allocated to partners. 4. P. Roper paid his capital deficiency 5. Cash was paid to the partners with credit balances Your answer is partially correct. Try again