CES Problem 12-3A The partners in Crawford Company decide to liquidate the firm when the balance sheet shows the following Balance Sheet May 31, 2017 Assets Liabilities and Owners Equity $28,900 Notes payable Cash Accounts receivable Allowance for doubtful accounts InventoryY $13,400 27,500 4,400 32,700 20,500 2,700 $101,200 24,100 Accounts payable (1,300) Salaries and wages payable 4,900 A. Jamison, capital 20,400 S. Moyer, capital (5,800) P. Roper, capital Accumulated depreciation-equipment Total $101,200 Total The partners share income and loss :3:2. During the process of liquidation, the following transactions were completed in the following sequence 1. A total of $51,600 was received from converting noncash assets into cash. 2. Gain or loss on realization was allocated to partners 3. Liabilities were paid in ful 4. P. Roper paid his capital deficiency, 5. Cash was paid to the partners with credit balances Prepare the entries to record the transactions. (Credit account titles are automatically indented when amount is entered, Do not indent manualy.) No. Account Titles and Explanation Debit Credit