Ignore the blue ink pen.

The balance sheet of the Tri-Star Partnership just prior to liquidation appears below: Other information: The partners Mulligan. Newman, and Overstreet share profit and losses in the ratio of 6:3:1 2 The noncash assets are sold for $150.000 3 The liabilities are paid sold for $150.000. 4 The remaining assets are distributed to the partners Assume that it any partner has 8 capital deficiency, he will not be able to pay the amount owed to the partnership. Instructions: (1) Prepare the schedule of liquidation (2) Record the liquidation of the Tri-Star Partnership