Fred and George have been in partnership for many years. The partners, who share profits and losses on a 60:40 basis, respectively, wish to retire and have agreed to liquidate the business. Liquidation expenses are estimated to be $10,000. At the date the partnership ceases operations, the balance sheet is as follows:

Cash $100,000 Liabilities $ 80,000 Noncash assets 200,000 Fred, Capital $100,000 George, Capital 120,000 ________ ________ $300,000 $300,000

1.	Prepare journal entries for the following transactions: (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

a.	Distributed safe cash payments to the partners.
b.	Paid $40,000 of the partnership?s liabilities.
c.	Sold noncash assets for $220,000.
d.	Distributed safe cash payments to the partners.
e.	Paid all remaining partnership liabilities of $40,000.
f.	Paid $8,000 in liquidation expenses; no further expenses will be incurred.
g.	Distributed remaining cash held by the business to the partners.