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 $5,500. At the date the partnership ceases operations, the balance sheet is as follows: $ Cash Noncash assets 63.90 220,00 Liabilities Alex, capital Bess, capital Total liabilities and capital $ 46,500 132, eee 104,500 $ 283,000 Total assets $ 283,00 Part A: Prepare Journal entries for the following transactions: a. Distributed safe cash payments to the partners. b. Pald $27,900 of the partnership's liabilities. c. Sold noncash assets for $236,500. d. Distributed safe cash payments to the partners. e. Pald remaining partnership liabilities of $18,600. f. Pald $4,300 in liquidation expenses, no further expenses will be incurred. g. 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. 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 S27,900 of the partnership's liabilities. c. Sold noncash assets for $236,500. d. Distributed safe cash payments to the partners. e. Paid remaining partnership liabilities of $18,600. f. Paid $4,300 in liquidation expenses; no further expenses will be incurred. g. Distributed remaining cash held by the business to the partners. Show less Journal entry worksheet 2 3 4 5 6 7 Record the initial distribution of available cash based on safe capital balance. Note: Enter debits before credits. Transaction General Journal Debit Credit Bess, Capital Cash Record entry Clear entry View general journal Journal entry worksheet 3 4 5 6 7 Record the payment of the partnership's liabilities. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet | 4 12 5 6 7 Record the sale of noncash assets. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet