Due to several years of losses, the partners of OMML Designes decided to liquidate the partnership. The following are the account balances as of December 31, 2023: Cash Equipment Accum DeprecEquipment Accounts Payable Notes Payable Leroy O'Brian, Capital John McKimon, Capital Joey Mack, Capital Franklyons Capital 10,000.00 Balance Dec 31/23 22,500.00 160.000.00 95.000.00 6,200.00 25,000.00 1630000 20,000.00 10.000.00 Salle of Assets Pay Liabilities Balance The equipment was sold for $81,000 on January 1, 2024. The partners share any profit (loss) equally. Required: 1. Complete the schedule. 2. Prepare the liquidation entries.