General Journal Date J1 Account Title Debit Credit (S.O. 5) In the HOG Company, partners Hull, Orr, and Gretzky have income ratios of 3: 2:1. At the time of liquidation the balance sheet shows: Cash $40,000: Inventory $204,000; Accounts Payable $160,000; Hull, Capital $52,000; Orr, Capital $24,000; and Gretzky, Capital $8,000. The noncash assets are sold for $168,000 in cash 2-2 structions a) Prepare a schedule of cash payments. ) Journalize the transactions assuming creditors are paid in full and available cash is distributed to the partners