2. Sometime later in 2021, the partners discovered that $95,600 of accounts payable had existed on December 31, 2020, but had not been recorded. These accounts payable relate to expenses incurred by the business. The partners are now trying to determine the best way to correct their accounting records, particularly their capital accounts. Dawson suggested that they make a special entry crediting $95,600 to the liability account, and debiting their capital accounts for $47,800 each. Scott, on the other hand, suggested that an entry should be made to record the accounts payable and retroactively correct the capital accounts to reflect the balance that they would have had if the expenses had been recognized in 2020. If they had been recognized, the partnership would have reported a loss of $9,300 instead of the $86,300 profit. a. Prepare a journal entry suggested by Dawson for recording the accounts payable and allocating the loss to the partners. View transaction list Journal entry worksheet Record to incorporate Dawson's suggestion. Note Enter debts before credits Date Dec 31, 2020 General Journal Debit Credit b. Prepare a journal entry to record the accounts payable and correct the capital accounts according to Scott's suggestion. View transaction list Journal entry worksheet