David Wallace, Olena Dunn, and Danny Lin were partners in a commercial architect firm and showed the following account balances as of December 31, 2023: Account balances December 31, 2023 Accum. David Olena Deprec. Accounts Notes Wallace, Dunn, Equipment Equipment Payable Payable Capital Capital Capital $50,800 $206,000 $107,000 $8,800 $30,000 $49,000 $32,000 $30,000 Cash Due to several unprofitable periods, the partners decided to liquidate the partnership. The equipment was sold for $74,000 on January 1, 2024. 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.) Account balances December 31, 2023 Sale of equipment Balance Payment of liabilities Balance Cash Equipment Accum. Deprec. Equipment $ 50,800 $ 206,000 $ Accounts Payable 107,000 $ Notes Payable 8,800 $ 30,000 $ David Wallace, Capital Danny Lin, 49,000 $ Olena Dunn, Capital 32,000 $ Danny Lin, Capital 30,000

Dovid Wallace, Olenn Dunn, and Danny Lin were partners in a commercial architect firm and showed the following account balances as of December 31, 2023, Due to several unprofitable periods, the partners decided to liquidate the partnership. The equipment was sold for $74,000 on January 1.2024. The partners share any profit (foss) in the ratio of 2.11 for Wallace, Dunn, and Lin, respectively. Required: 1. Complete the schedule. (Negntive answers should be indicoted by a minus sign.)