Kendra, Cogley, and Mei share income and loss in a 3:2:1 ratio (in ratio form: Kendra, 3/6; Cogley, 2/6; and Mei, 1/6). The partners have decided to liquidate their partnership. On the day of liquidation, their balance sheet appears as follows. Required: For each of the following scenarios; completo the schedule allocating the gain or lass on the sale of inventory. Prepare journal entries to record the below transactions. Note: Do not round intermediate calculations. Enter losses and partner deficits, if any, as negative amounts. 1. Inventory is sold for $618,600. 2. Inventory is sold for $426,600. 3. Inventory is sold for $351,000 and parthers with deficits pay their deficits in cash. 4. Inventory is sold for $241,200 and partners with deficits do not pay their deficits. Complete this question by entering your answers in the tabs below. Complete the schedule allocating the gain or loss on the sale of inventory is $618,600. 1 Record the sale of inventory. 2 Allocate the gain(loss) on the sale of inventory to the partners. 3 Record the payment of the liabilities. 4 Record the disbursement of the remaining cash to the partners. Complete the schedule allocating the gain or loss on the sale of inventory is $426,600