ces Martha Wheaton, Bess Chen, and Sam Smith were partners in an urban Calgary tea shop called Wake and showed the following account balances as of December 31, 2020 Account balances December 31, 2020 Accu Cash Building $196,000 $540,000 Land Bess Deprec Accounts Building Wheaton, Chen, $492,000 $220,000 $140,000 $340,000 Payable Capital Martha Smith, Capital Capital (64,000) $356,000 Due to difficulties, the partners decided to liquidate the partnership. The land and building were sold for $715,000 on January 1, 2021 The partners share any profit (loss) in the ratio of 21:1 for Wheaton, Chen, and Smith, respectively. Capital deficiencies at liquidation are absorbed by the remaining partners according to their income (loss) ratio Required: Complete the schedule. Prepare the entry to distribute the remaining cash to the partners. (Negative answers should be indicated by a minus sign.) Cash Building Accum Depreo, Building Account balances December 31, 2020 5 100,000 1040.000 Sale of land and building Balance $600,000 $ Land Accounts Payable Martha Wheaton Capital 492.000 $220.000 140,000 $340,000 713.000 848.000492.000 (220.000) 09.000 0505 0 $140.000 5 400 000 S Payment of abilities Balance Acsorption of cefcancy $500 000 $ 29.500 $935.600 $ Bess Sam Chen Smith Capital Capital (04.000) 1 360.000 36.500 35.000 20.500 5 391,000) 05 DAS 140.000 400.000 5 500 301.000 040 $140.000 400.000 85003 301.000 View transaction Ret Journal entry worksheet < Record the distribution of remaining cash to partners. Note: Enter debits before credits Date Jan 01, 2021 General Journal Debit Credit Record entry Clear entry View general journal