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 $7,000. At the date the partnership ceases operations, the balance sheet is as follows: Cash Noncash assets $ 54,000 130,000 $ 184,000 Liabilities Alex, capital Bess, capital Total liabilities and capital $ 42,000 91,000 51,000 $ 184,000 Total assets Part A: Prepare journal entries for the following transactions: a. Distributed safe cash payments to the partners. b. Paid $25,200 of the partnership's liabilities. c. Sold noncash assets for $142,000, d. Distributed safe cash payments to the partners. e. Pald remaining partnership liabilities of $16,800. f. Pald $5,600 in liquidation expenses; no further expenses will be incurred. 9. Distributed remaining cash held by the business to the partners. Part B: Prepare a final statement of partnership liquidation Complete this question by entering your answers in the tabs below. Saved mework Required A Required B Prepare journal entries for the following transactions: (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) a. Distributed safe cash payments to the partners. b. Paid $25,200 of the partnership's liabilities. c. Sold noncash assets for $142,000. d. Distributed safe cash payments to the partners. e. Paid remaining partnership liabilities of $16,800. f. Paid $5,600 in liquidation expenses; no further expenses will be incurred. g. Distributed remaining cash held by the business to the partners. View transaction list Record the initial distribution of available cash based on safe capital balance. alance. 2 Record the payment of the partnership's liabilities. 3 Record the sale of noncash assets. Record the entry to distribute safe cash payments to the partners. Credit