q12

5 points Save Answer A, B and C are partners and sharing income and loss in a 3.2:1 ratio respectively. They decided to liquidate the partnership. Before the final distribution of the remaining cash to the partners, A has a capital balance of $ (30,000), B has a capita balance of $72,000 and C has a capital balance of $48,000. Cash balance is $90,000. A paid the amount he owes the partnership. Required: Prepare journal entries to record the above liquidation process. YOUR ANSWER SHOULD BE IN THE FOLLOWING FORM DO NOT USE "," BETWEEN NUMBERS Dr. Cash 100000 Cr Land 100000 For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac) B I U S Paragraph Arial 10pt