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After discontinuing the ordinary business operations and closing the accounts, the ledger of the partnership of isiah, jerry, and shannon indicated the following Cash 25,000

After discontinuing the ordinary business operations and closing the accounts, the ledger of the partnership of isiah, jerry, and shannon indicated the following Cash 25,000 noncash assests $74,000 Liabilites $50,000 Isiah, capital $17,500 John, Capital $15,500 Shannon, Capital $16,000 _______ ________ $99,000 $99,000 The partnership share net income int eh ration of 2:1:1. Between May 7-30, the noncash assets were sold fo r$14,000 theliabilites were paid and the remaining cash was distributed to the partners. All partners in a deficit position were able to find enough cash to cover the shortages. Prepare a statement of partnership liquidation

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