PRINTER VERSION Exercise 12-10 (Part Level Submission) Prior to the distribution of cash to the partners, the accounts in the VUP Company are: Cash $38,000; Vogel, Capital (Cr.) $22,400; Utech, Capital (Cr.) $20,400; and Pena, Capital (Dr.) $4,800. The income ratios are 5:3:2, respectively. VUP Company decides to liquidate the company. (a) Your answer correct Prepare the entry to record (1) Pena's payment of $4,800 cash to the partnership and (2) the distribution of cash to the partners with credit balances. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit (1) Cash $4,800 Pena, Capital $4,800 (2) Vogel, Capital $22,400 - Utech, Capital $20,400 Cash $42,800 Click if you would like to Show Work for this question: Open Show Work SHOW ANSWER LINK TO TEXT Attempts: 2 of 3 used (b) Prepare the entry to record (1) the absorption of Pena's capital deficiency by the other partners and (2) the distribution of cash to the partners with credit balances. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit No. Acoount Titles and Explanation (1) (2) Click if you would like to Show Work for this question: Open Show Work Attempts: 0 of 3 used SAVE FOR LATER SUBMIT ANSWER 2:00 PM