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. Balance Sheet Assets Liabilities Cash Inventory $ 180,800 Accounts payable 537,200 $ 245,500 Equity Kendra, Capital 93,000 Cogley, Capital Mei, Capital 212,500 167,000 Total assets $ 718,000 Total liabilities and equity $ 718,000 Required: es 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. Note: Do not round intermediate calculations. Enter losses and partner deficits, if any, as negative amounts. 1. Inventory is sold for $600,000. 2. Inventory is sold for $500,000. 3. Inventory is sold for $320,000 and partners with deficits pay their deficits in cash. 4. Inventory is sold for $250,000 and partners with deficits do not pay their deficits. Complete this question by entering your answers in the tabs below. Required 1 Inventory Required 1 GJ Required 2 Inventory Required 2 GJ Required 3 Inventory Required 3 GJ Required 4 Inventory Required 4 GJ