Question $11(1$ point$)$ u$.|.$hy saved

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Partnership Liquidations$($Part $3$ of $3)$

A partnership group has decided to liquidate the business. The ownership group consists of three owners A$.$ B$.$ and C whose ownership and profit split is $7$:$5$:$3$ respectively. The balance sheet is as follows:

Cash $$75\mathrm{.}000$

Non$-$cash Assets $$400,000$

Liabilities $$100,000$

A$\text{'}$s$,$ Capital $$150,000$

B$\text{'}$s$.$ Capital $$40,000$

C$\text{'}$s$.$ Capital $$185,000$

The non$-$cash assets were sold for $$250,000.$

For part $3$ of this problem, determine what the last journal entery would be to close $($zero out$)$ the capital accounts A$,$ B$,$ and OS Dartnership:

$($assume that any partner that has a negative capital ballance will need to pay cash back into the partnership in order to zero out their capital balance.$)$

a$)$ Dr$.$ Cash & B$|$s Capital: Gr$.$ Als Gapital & C$\text{'}$s Capital

b$)$ Dr$.$ Cash. Gr$.$ A$\text{'}$s Capital & Bs Capital. & O$\text{'}$s Capital

d$)$ Dr$.$ A$\text{'}$s Gapital & B$\text{'}$s Capital. & G S Oapitad. Or$.$ Gash

e$)$ None of the above