all questions A,B,C,C

The partners in Inland Lakes Company decide to liquidate the firm when the balance sheet has the following: Assets Liabilities and Partner's Equity Cash 24,000.00 Notes Payable Accounts Receivable 13,000.00 Accounts Payable Merchandise Inventory 30,000.00 Wages Payable Equipment 22,000.00 T.E. Huron, Capital Less Accumulated Amortization (8,000.00) P. A. Erir, Capital C.R. Lake, Capital 81,000.00 The partners share income and loss 5:3:2 (Huron, Erie, Lake). During the process of liquidation they transactions below were completed in the order shown: 1. A total of 48,000 was received from converting noncash assets into cash on May 2nd. 2. Liabilities were paid in full on May 6th. 3. Cash was paid to the partners on May 9th. 14,000.00 24,000.00 2,000.00 25,000.00 12,800.00 3,200.00 81,000,00 a. Show the entries to record the sale of non cash assets. b. Show the entry to allocate the loss to the partners. c. Show the entry for the payment of liabilities. c. Show the entry to close out the capital accounts and the Bank account. General Journal Date Particulars Debit Page 40 Credit