Alex and Bess have been in partnership for many years. The partners, who share profits and losses on a 60:40 basis, respectively, wish to retire and have agreed to liquidate the business. Liquidation expenses are estimated to be $9,000. At the date the partnership ceases operations, the balance sheet is as follows:

Cash	$	58,000	Liabilities	$	44,000
Noncash assets		170,000	Alex, capital		102,000
			Bess, capital		82,000
Total assets	$	228,000	Total liabilities and capital	$	228,000

Part A: Prepare journal entries for the following transactions that occurred in chronological order:

1. Distributed safe cash payments to the partners.
2. Paid $26,400 of the partnerships liabilities.
3. Sold noncash assets for $184,000.
4. Distributed safe cash payments to the partners.
5. Paid remaining partnership liabilities of $17,600.
6. Paid $7,200 in liquidation expenses; no further expenses will be incurred.
7. Distributed remaining cash held by the business to the partners.

1. Part B: Prepare a final statement of partnership liquidation.