Kendra, Cogley, and Mel share Income and loss in a 3:2:1 ratlo (In ratlo form: Kendra, 3/6; Cogley, 2/6; and Mel, 1/6 ). The partners have decided to Ilquidate their partnership. On the day of liquidation, their balance sheet appears as follows. Required: For each of the following scenarlos, complete the schedule allocating the gain or loss on the sale of Inventory. Prepare journal entrles to record the below transactions. (Do not round Intermedlate calculatlons. Enter losses and partner deficits, if any, as negatlve amounts.) 1. Inventory Is sold for $604,200. 2. Inventory is sold for $424,200. 3. Inventory Is sold for $307,800 and partners with deficits pay their deficits in cash. 4. Inventory is sold for $262,200 and partners with deficits do not pay their deficits. Complete this question by entering your answers in the tabs below. Prepare journal entries to record the inventory is sold for $604,200. 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