2. Assume the partner with the capital deficiency declares bankruptcy and is unable to pay the deficiency. a. Journalize the entry to aliocate the partner's deficiency. For a compound transaction, if an amount box does not require an entry, leave it biank: Statement of Partnershio Lquldation: After the accounts are closed on April 10, prior to liquidating the partnership, the capltal accounts of Zach Fairchild, Austin Lowes, and Amber Howard are $34,900,$5,300, and $27,400, respectively. Cash and noricash assets total $9,200 and $69,000, respectively. Amounts owed to creditors total $9,600. The partmers share income and losses in the ratio of 1:1:2. Between Aprill 10 and April 30 , the noncash assets are sold for $36,600, the partner with the capital deficiency pays the deficlency to the partnership, and the liabilities are paid. Required: 1. Prepare a statement of partnership liquidation, indicating (a) the sale of assets and division of loss, (b) the payment of labilities, (c) the receipt of the deficiency (from the appropriate partner), and (d) the distribution of cash. Enter any subtractions (balance deficiencies, payments; cash distributions, divisions of los5, sale of assets) as negative numbers using a minus sign. If there is no amount of an amount is zero, enter " 0 ". Fairchild; Lowes, and Howard Statement of Partnership Liquidation for Pariod April 10-30