Help please I already did part A dont know how to fill up part B.

P12-3B The partners in Newman Company decide to liquidate the firm when the balance sheet shows the following. NEWMAN COMPANY Balance Sheet April 30, 2017 Assets Liabilities and Owners' Equity Cash $ 30,000 Notes payable $ 20,000 Accounts receivable 25,000 Accounts payable 30,000 Allowance for doubtful accounts (2,000) Salaries and wages payable 2,500 Inventory 35,000 Mallory, capital 28,000 Equipment 20,000 Bosco, capital 13,650 Accumulated depreciation equipment (8,000) Renteria, capital 5,850 $100,000 $100,000 The partners share income and loss 5:3:2. During the process of liquidation, the transac- tions below were completed in the following sequence. 1. A total of $55,000 was received from converting noncash assets into cash. 2. Gain or loss on realization was allocated to partners. 3. Liabilities were paid in full. 4. Cash was paid to the partners with credit balances. Instructions (a) Prepare a schedule of cash payments. (b) Prepare the entries to record the transactions. 4 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 4 -5 Date 10 11 12 13 14 15 (2) 16 17 18 19 20 21 (3) 22 23 24 25 26 15 27 (4) 5 28 7 29 3 30 3 31 0 32 1 33 2 34 3 35 4 36 5 37 38 39 40 6 7 8 9 0 1 2 3 4 (b) 1 (1) 2 3 4 5 6 7 8 9 Account Titles Gain/Loss on sale of noncash assets: Account Titles Debit Debit Newman Company Credit 1 2 3 Credit 4 5 16 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40