After the accounts closed on February 3, 2016, prior to liquidating the partnership, the capital accounts of William Gerloff, Joshua Chu, and Courtney Jewett are $19, 300, $4, 500, and $22, 300 respectively. Cash and noncash assets total $5, 200 and $55, 900. respectively. Amounts owed to creditors total $15,000. The partners share income and losses in the ratio of 2:1:1 Between February 3 and February 28, the noncash assets are sold for $34, 300, the partner with the capital deficiency pays the deficiency to the partnership, and liabilities are paid. Instructions Prepare a statement of partnership liquidation, indicating the sale of assets and division of loss the payment of liabilities, the receipt of the deficiency (from the appropriate partner), and the distribution of cash. Assume partner with the capital deficiency declares bankruptcy and is unable to the pay the deficiency. Journalize the entries to allocate the partner's deficiency and distribute the remaining cash