Please answer the question correctly.

Required information [The following information applies to the questions displayed below.] The partnership of Butler, Osman, and Ward was formed several years ago as a local tax preparation firm. Two partners have reached retirement age, and the partners have decided to terminate operations and liquidate the business. Liquidation expenses of $40,000 are expected. The partnership balance sheet at the start of liquidation is as follows: Cash Accounts receivable Office equipment (net) Building (net) Land Total assets $ 36,000 66,000 56,000 140,000 130,000 $ 428,000 Liabilities Butler, loan Butler, capital (25%) Osman, capital (25%) Ward, capital (50%) Total liabilities and capital $ 176,000 36,000 80,000 36,000 100,000 $ 428,000 The following transactions transpire in chronological order during the liquidation of the partnership: 1. Collected 90 percent of the accounts receivable and wrote the remainder off as uncollectible. 2. Sold the office equipment for $23,000, the building for $102,000, and the land for $144,000. 3. Distributed safe payments of cash. 4. Paid all liabilities in full. 5. Paid actual liquidation expenses of $33,000 only. 6. Made final cash distributions to the partners. Journal entry worksheet Distributed safe payments of cash. Note: Enter debits before credits. General Journal Credit Transaction 3 Debit 36,000 Butler, loan Butler, capital Osman, capital Ward, capital Cash 148,400 Record entry Clear entry View general journal