1. Record the sale of inventory for 284,4002. Record the allocation of the gain or loss on the sale of inventory to the partners3. Assuming that the partners have no assets other than those invested Allocate any partner deficit balance it to the remaining partners4 Record a payment of liability5 Record the disbursement of the remaining cash to the partner

KENDRA, COGLEY, AND MEI Balance Sheet May 31 Assets Liabilities and Equity Cash $ 72, 800 Accounts payable $ 241, 060 Inventory 547, 200 Kendra, Capital 75, 800 Cogley, Capital 170, 550 Mei, Capital 132 , 650 Total assets $620, 000 Total liabilities and equity 080 079$ Required: For each of the following scenarios, complete the schedule allocating the gain or loss on the sale of inventor to record the below transactions. (Do not round intermediate calculations. Amounts to be deducted or Loss with a minus sign. Round your final answers to the nearest whole dollar.) (1) Inventory is sold for $604,200. (2) Inventory is sold for $478,200. (3) Inventory is sold for $315,600 and any partners with capital deficits pay in the amount of their deficits. (4) Inventory is sold for $284,400 and the partners have no assets other than those invested in the partnersh Complete this question by entering your answers in the tabs below. Required 1 Inventory Required 1 GJ Required 2 Required 2 GJ Required 3 Required 3 GJ Required 4 Inventory Required 4 GJ Inventory Inventory Prepare journal entries to record the inventory is sold for $284,400 and the partners have no assets other than thos partnership. View transaction list Journal entry worksheet 2 3 4 5 Record the sale of inventory for $284,400.