Kendra, Cogley, and Mei share income and loss in a 3: 2: 1 ratio (K share is 3/6, Cs 2/6 and Ms 1/6). 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 . . . . . . . . . . . . $ 199,100 Accounts payable . . . . . . . . . . . . . $ 258,000 Inventory . . . . . . . . . 548,400 Kendra, Capital . . . . . . . . . . . . . . . 97,900 Cogley, Capital . . . . . . . . . . . . . . . 220,275 Mei, Capital . . . . . . . . . . . . . . . . . 171,325 Total assets . . . . . . . $ 747,500 Total liabilities and equity . . . . . . . $ 747,500 Prepare journal entries for: ( a) the sale of inventory, ( b) the allocation of its gain or loss, ( c) the payment of liabilities at book value, and (d) the distribution of cash assuming the partnerships inventory is sold for $625,200. (13 points). Date Account Names Debit Credit