Dunn, and Danny Lin were partners in a commercial architect firm and showed the following account balances as ember 31, 2020 Accum. Deprec Accounts Notes Cash Equipment $42,400 $194,000 David Olena Wallace, Dunn, Equipment Payable Payable Capital Capital Capital $103,000 $8,400 $26,000 $45,000 $28,000 $26,000 Danny Lin, table periods, the partners decided to liquidate the partnership. The equipment was sold for $70,000 on artners share any profit (loss) in the ratio of 2:1:1 for Wallace, Dunn, and Lin, respectively. lule. (Negative answers should be indicated by a minus sign.) Cash Equipment Accum. Deprec. Equipment Accounts Payable Notes: Payable David Wallace. Olena Dunn, Danny Lin, Capital Capital Capital ber 31, 2020 $ 42,400 $ 194,000 $ 103,000 $ 8,400 $ 26,000 $ 45,000 $ 28,000 $ 26,000 lule. (Negative answers should be indicated by a minus sign.) Cashi Equipment Accum. Deprec. David Olena Danny Accounts Payable Notes Wallace, Dunn, Lin, Payable Equipment Capital Capital Capital ber 31, 2020 $ 42,400 $ 70,000 $ 112,400 $ 194,000 $ 103,000 $ 8,400 $ 26,000 $ 45,000 $ 28,000 $ 26,000 194,000 388,000 $ 103,000 206,000 $ 8,400 $ 26,000 $ 45,000 $ 28,000 $ 26,000 $112,400 $ 388,000 $ 206,000 $ 8,400 $ 26,000 $ 45,000 $ 28,000 $ 26,000 View transaction list Journal entry worksheet 1 2 3 Record the sale of equipment. Note: Enter debits before credits. Date General Journal Debit Credit Jan 01, 2021 Cash 70,000 Accumulated depreciation, equipment 103,000 Loss on sale of equipment Equipment