Exercise 12-10 Prior to the distribution of cash to the partners, the accounts in the VUP Company are: Cash $34,000; Vogel, Capital (Cr.) $19,600; Utech, Capital (Cr.) $17,600; and Pena, Capital (Dr.) $3,200. The income ratios are 5:3:2, respectively. VUP Company decides to liquidate the company. Your answer is partially correct. Try again. Prepare the entry to recor (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 Cash 3200 Pena, Capital 3200 (2) Vogel, Capital 19600 Utech, Capital Cash Cas 37200 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 IIIIIIIIIIIIIII T Utech, Capital Pena, Capital 3200 (2) Vogel, Capital Utech, Capital Cash