CP 12-5 The following balance sheet is for the partnership of Able, Brown, and Crown at November 1, 2019. Assets Liabilities Cash$20,000 Accounts payable$50,000 Other assets180,000Partners' CapitalAble, capital$37,000Brown, capital65,000Crown , capital48,000 150,000$200,000$200,000 CHAPTER TWELVE / Proprietorships and Partnerships First US Edition 549 The profit and loss sharing ratio is Able 40%; Brown: 40%, and Crown: 20%. The partnership is dissolved and liquidated during November by selling the other assets for $100,000 and paying off the creditors. Required:1. Prepare a schedule of partnership liquidation for the month ending November 30, 2019. Assume any capital deficiency is absorbed by the other partners. 2. Prepare the journal entries to record the dissolution