3 Alex and Bess have been in partnership for many years. The partners, who share profits and losses on a 70-30 basis, respectively, wish to retire and have agreed to liquidate the business Liquidation expenses are estimated to be $5.500. At the date the partnership ceases operations, the balance sheet is as follows: 125 DO Cash ach assets $ 48,000 135,000 Liabilities Alex, capital ess, capital Total liabilities and capital $36,000 4,500 $2.500 $ 183,000 Total assets $ 187,000 CO Port A: Prepare journal entries for the following transactions that occurred in chronological order .. Distributed safe cash payments to the partners b. Paid $21600 of the partnerships bites c. Sold noncash assets for $147000 d. Distributed safe cash payments to the partners .. Paid remaining partnerships of $14.400 Paid 54100 in liquidation expenses no further expenses will be incurred Distributed remaining cash held by the business to the partners Parten: Prepare a final statement of partnership liquidation Complete this question by entering your answers in the tabs below. RA Hed Prepare your entries for the following transactions that occurred in chronological orders (Do not round Intermediate calculations. It no for transaction, select a journal entry required in the first account field) ..ted sales payments to the partners 1.521,000 of the partnerships Babies Sed nonchus for $147,000. d. Distributed