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 $4,000. At the date the partnership ceases operations, the balance sheet is as follows: Cash Noncash assets $ 45,000 105,000 Liabilities Alex, capital Bess, capital Total liabilities and capital $ 34,500 73,500 42,000 $ 150,000 Total assets $ 150,000 Part A: Prepare journal entries for the following transactions: a. Distributed safe cash payments to the partners. b. Paid $20,700 of the partnership's liabilities. c. Sold noncash assets for $115,500. d. Distributed safe cash payments to the partners. e. Paid remaining partnership liabilities of $13.800 f. Paid $2,900 in liquidation expenses, no further expenses will be incurred. g. Distributed remaining cash held by the business to the partners. Bess, Capital Cash 0 20,700 Liabilities Cash 0 20,700 Cash 115,500 Alex, Capital Bess, Capital Noncash assets 0 Alex, Capital Bess, Capital Cash 0 Liabilities 13,800 Cash 13,800 Alex, Capital Bess, Capital Cash 2,900 9. Alex, Capital Bess, Capital Cash