Agarwal, Bergeron, and Cishek have been in partnership for a number of years. The partners allocate all profits and losses on a $4$:$2$:$2$ basis, respectively. Recently, each partner has become personally insolvent and, thus, the partners have decided to liquidate the business in hopes of remedying their personal financial problems. As of September $1,$ the partnership$$s balance sheet is as follows:

Cash $ $17,000$ Liabilities $ $53,000$

Accounts receivable $87,000$ Agarwal, capital $34,000$

Inventory $86,000$ Bergeron, capital $81,000$

Land, building, and equipment $($net$)30,000$ Cishek, capital $52,000$

Total assets $ $220,000$ Total liabilities and capital $ $220,000$

Required:

Prepare journal entries for the following transactions:

Note: Do not round intermediate calculations. If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

Sold all inventory for $$62,000$ cash.

Paid $$9,300$ in liquidation expenses.

Paid $$46,000$ of the partnership$$s liabilities.

Collected $$51,000$ of the accounts receivable.

Distributed safe payments of cash; the partners anticipate no further liquidation expenses.

Sold remaining accounts receivable for $35$ percent of face value.

Sold land, building, and equipment for $$23,000.$

Paid all remaining liabilities of the partnership.

Distributed cash held by the business to the partners.