5 Martha Wheaton, Bess Chen, and Sam Smith were partners in an urban Calgary tea shop called Wake and showed the following account balances as of December 31, 2023: Account balances December 31, 2023 Accum Deprec Martha Cash $202,000 Building $860,000 Building Land $495,000 $226,000 Accounts Wheaton, Payable Capital $146,000 $352,000 San Smith, Capital Bess Chen, Capital $(70,000) $362,000 Due to difficulties, the partners decided to liquidate the partnership. The land and building were sold for $733,000 on January 1, 2024. The partners share any profit (loss) in the ratio of 2:1:1 for Wheaton, Chen, and Smith, respectively. Capital deficiencies at liquidation are absorbed by the remaining partners in Wake according to their profit (loss) ratio Required: Complete the schedule. Prepare the entry to distribute the remaining cash to the partners. (Negative answers should be indicated by a minus sign.) Cash Building Accum Deprec Building Martha Bess Sam Land Accounts Payable Wheaton, Chen, Smith, Account balances December 31, 2023 Sale of land and building $ 202,000 $ 500,000 $ Capital 498,000 $220,000 $ 140,000 $ 352,000 $ Capital Capital (70,000) $ 362,000) Balance: $ 202,000 $ 860,000 $ 400,000 $220,000 $ 140,000 $ 352,000 $ (70,000) $ 362,000 Payment of laboties Balance: $ 202,000 $ 860,000 $ 498,000 $226,000 $ 146,000 $ 352,000 $ (70,000) $ 362,000 Absorption of deficiency Balance $ 202.000 $ 860,000 $ 498,000 $225,000 $ 146,000 $ 352,000 $ (70,000) $ 362,000 5 View transaction list Journal entry worksheet Record the distribution of remaining cash to partners. Note: Enter debts before credits. Datel Jan 01, 2024 General Journal Debit Credit Record entry Clear entry View general journal