146,000 128,000 118,000 98,000 Assets $ 490,000 Liabilities Athos, capital Porthos, capital Aramis, capital According to the articles of partnership, Athos is to receive an allocation of 50 percent of all partnership profits and losses while Porthos receives 30 percent and Aramis, 20 percent. The book value of each asset and liability should be considered an accurate representation of fair value For each of the following independent situations, prepare the journal entry or entries to be recorded by the partnership