Kendra, Cogley, and Mei share income and loss in a 3:2:1 ratio. The partners have decided to liquidate their partnership. On the day of liquidation their balance sheet appears as follows.

KENDRA, COGLEY, AND MEI Balance Sheet May 31

Assets		Liabilities and Equity
Cash	$94,600	Accounts Payable	$247,000
Inventory	$536,400	Kendra, Capital	$76,800
		Cogley, Capital	$172,800
		Mei, Capital	$134,400
Total Inventory	$631,000	Total Liabilities and Equity	$631,000

Required:

For each of the following scenarios, complete the schedule allocating the gain or loss on the sale of inventory. Prepare journal entries to record the below transactions. (Do not round intermediate calculations. Amounts to be deducted should be entered with a minus sign.)

(1) Inventory is sold for $625,800 (2) Inventory is sold for $478,200. (3) Inventory is sold for $308,400 and any partners with capital deficits pay in the amount of their deficits. (4) Inventory is sold for $270,600 and the partners have no assets other than those invested in the partnership.