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 $5,000. At the date the partnership ceases operations, the balance sheet is as follows 50, 000 Liabilities $ 40,000 90,000 70,000 $ 200,000 Cash Noncash assets 150,000 Alex, capital Bess, capital Total assets 200, 000 Total liabilities and capital Part A: Prepare journal entries for the following transactions: a. Distributed safe cash payments to the partners. b. Paid $30,000 of the partnership's liabilities. c. Sold noncash assets for $160,000. d. Distributed safe cash payments to the partners. e. Paid remaining partnership liabilities of $10,000. f. Paid $4,000 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