Check my work David Wallace, Olena Dunn, and Danny Lin were partners in a commercial architect firm and showed the following account balances as of December 31, 2020 Lin, Account balances December 31, 2020 $25,600 Accum. Deprec. Equipment Aquipment $170,000 $95,000 Cash Accounts Payable $7,600 Notes Payable $18,000 David Olena Danny Wallace, Dunn, Capital Capital Capital $37.000 $20,000 $18,000 Due to several unprofitable periods, the partners decided to liquidate the partnership. The equipment was sold for $62,000 on January 1, 2021. The partners share any profit (loss) in the ratio of 2.1.1 for Wallace, Dunn, and Lin, respectively Required: 1. Complete the schedule. (Negative answers should be indicated by a minus sign.) Copy Accum David Accounts Notes Equipment Deprec Wallace, Equipment Payable Payable Capital 170.000 $ 95,000 $ 7.000 $ 18,000 5 37,000 $ Olena Dunn Capital Dane Lin Capi $ 25,000 20,000 $ Account balances December 31, 2020 Sale of equipment Balance Payment of labios Balance Che 2. Prepare the liquidation entries (sale of equipment, allocation of gain/loss, payment of creditors, final distribution of cash). View transaction list Journal entry worksheet 2021-06...1.45 PM