Assume that any partner with a deficit agrees to pay cash to the partnership cover the deficit. Present the journal entries on May 31 to record (a) the cash receipt from the deficient partner(s) and (b) the final disbursement of cash to the partners. Assume that any partner with a deficit agrees to pay cash to the partnership cover the deficit. Present the journal entries on May 31 to record (a) the cash receipt from the deficient partner(s) and (b) the final disbursement of cash to the partners