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Bdow is the Balance Shoet of ACE Company. Assets $000 Notes 15,000 1800 35,000 P. Carey, Capital $15,.000 16,000 15,000 17.300 R. Arnet, Capital c

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Bdow is the Balance Shoet of ACE Company. Assets $000 Notes 15,000 1800 35,000 P. Carey, Capital $15,.000 16,000 15,000 17.300 R. Arnet, Capital c depeeqipmEi1 3 $65,000 65,000 The partners have agreed to liquidate on the following terms 1.) The noncash assets of the partnership will be sold to Jackson Enterprises for 575,000 cash 2.) The partnenship will pay its partnership liabilities 3.) The income ratios of the partners are 3,2:1, respectively for Armet Carey and Eaton. Instructions: Prepare in good form the four journal entries necessary to liquidate this partnership according the partner's agroed terms

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