Alex and Bess have been in partnership for many years. The partners, who share profits and losses on a 60 40 basisrespectively wish to retire and have agreed to quidate the business Liquidation expenses are estimated to be 55.000 At the date the partner ceases operations, the balance sheet is as follows Liabilities Alex, capital Bess, capital Total ties and capital Part A: Prepare journal entries for the following transactions a. Distributed sale cash payments to the partners b. Paid S30,000 of the partnership's abilities 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 liquidation expenses: no further expenses will be incurred 9. Distributed remaining cash held by the business to the partners Part. Denna final entfernt Helps 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 $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. Show less View transactior list 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 a final statement of partnership liquidation ALEX AND BESS PARTNERSHIP Statement of Partnership Liquidation Cash Cash Non-cash tiles Alex Capital Bank Capital Assets Sold noncash Update balances Distribution to partners Update balances Prepare a final statement of partnership liquidation. ALEX AND BESS PARTNERSHIP Statement of Partnership Liquidation Cash Non-cash Liabilities Assets Alex, Capital Bess, Capital ed Beginning balances Distribution to partners Paid liabilities Sold noncash assets Updated balances Distribution to partners Updated balances Paid liabilities Paid liquidation expenses Updated balances Distribution to partners Closing balances