Alfredo, Befoe, and Cefoe decided to liquidate their partnership. The accounts prior to liquidation are below:

BALANCE-SHEET - Prior to liquidation

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Cash $10,000 Acct-Pay $30,000

A-Rec 60,000 Note-Pay 5,000

Allowance-Bad-Debt -10,000 50,000

Office Supplies 5,000

Inventory 30,000 A-Capital 40,000

Building 80,000 B-Capital 40,000

Acc-Depreciation -30,000 50,000 C-Capital 30,000

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Total Assets $145,000 Total Liability + Equity $145,000

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The partners share income and losses 2:2:1. Prepare journal entries for liquidation.

Sold A-Rec for $50,000 Sold Inventory for $25,000 Sold Building for $100,000 Sold supplies for $5,000