1.The partners of the Blue Tooth Partnership agree to liquidate. After all liabilities of $100,000 are paid, the capital account balances are: Wong, $80,000; Winslow, $70,000; and Peters, ($4,000). Assume the partners have no agreement for sharing profits and losses. Prepare the journal entries required to end the partnership.

a)Peter is pays his capital deficiency.

b)Peter is unable to pay his capital deficiency.