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: Accum. David Olena Danny Deprec. Accounts Notes Wallace, Dunn, Lin, Cash Equipment Equipment Payable Payable Capital Capital Capital Account balances December 31, $55,000 $212,000 $109,000 $9,000 $32,000 $51,000 $34,000 $32,000 2020 Due to several unprofitable periods, the partners decided to liquidate the partnership. The equipment was sold for $76,000 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.) Accounts Payable Accum. Cash Equipment Deprec. Equipment $ 55,000 $ 212.000 $ Notes Payable Lin. David Wallace, Capital 51,000 $ Olena Danny Dunn, Capital Capital 34,000 $ 32.000 Account balances December 31, 2020 109,000 S 9,000 $ 32,000 $ Sale of equipment Balance $ 55.000 S 212.000 S 109 ms 9.000S 32.000 S 51.000 $ 34.000 S 32.000 2. Prepare the liquidation entries (sale of equipment, allocation of gain/loss, payment of creditors, final distribution of cash)