The following is a condensed balance sheet for a partnership immediately prior to liquidation on December 31, 2018: Cash $ 90,000 Inventory 10,000 Assets Owners' Equity. $ 30,000 150,000 Total Assets and owners' $180,000 sale to the partners Art, Capital Accounts Payable Bart, Capital John, Capital $180,000 Liabilities and 30,000 50,000 Total Liabilities equity. The partners share incomes and losses in the ratio of 5:3:2 for Art, Bart, and John, respectively. The partners agreed to liquidate the partnership. Required: Prepare journal entries to record the following: a. Sale of Inventory for $200,000 cash b. The Allocation of the Gain/Loss from the inventory c. Payment of the liability d. Final Distribution of cash to the partners