Exercise 12-10 Prior to the distribution of cash to the partners, the accounts in the VUP Company are: Cash $32,800; Vogel, Capital (Cr.) $19,000; Utech, Capital (Cr.) $17,000; and Pena, Capital (Dr.) $3,200. The income ratios are 5:3:2, respectively. VUP Company decides to liquidate the company. Your answer is correct. Prepare the entry to record (1) Pena's payment of $3,200 in cash to the partnership and (2) the distribution of cash to the partners with credit balances. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit (1) Cash 1 3200 Pena, Capital 3200 (2) Vogel, Capital 19000 17000 Tutech, Capital T Cash T T 36000 Your answer is partially correct. Try again. Prepare the entry to record (1) the absorption of Pena's capital deficiency by the other partners and (2) the distribution of cash to the partners with credit balances. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit (1) Vogel, Capital T T 5000 | 3000 Pena, Capital Z 8000 8000 Tutech, Capital Pena, capital (2) "vogel, Capital Tutech, capital cash (2) Vogel, Capital T 14000 i 14000 140001 18000