Please do part A above and Part B: journal entries to form the completion of the liquidation process.

Exercise 16-1 The CPA Partnership operated by Cook, Parks, and Argo is being liquidated. A balance sheet prepared at this stage in their liquidation process is presented below. Cash Other Assets $36,000 50,000 Liabilities Parks, Loan Cook, Capital Parks, Capital Argo, Capital Total $22,000 10,000 28,000 10,000 16,000 $86,000 Total $86,000 The partners share profits and losses 30% (Cook), 50% (Parks), and 20% (Argo). The partners are all personally insolvent. (a) Your answer is partially correct. Try again. The partners wish to distribute the $36,000 in cash. Record in journal entry form the distribution of the available cash. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter o for the amounts.) Account Titles and Explanation Debit Credit Liabilities 220001 22000 T cash (To record payment of liabilities) cook, Capital 10800 Argo, Capital 7200 T cash 18000 (To record distribution to partners) SHOW LIST OF ACCOUNTS