Lul, Montavo, and Johnson plan to liquldate their Premlum Pool and Spa business. They have always shared profit and losses in a $1$:$4$:$5$ ratio, and on the day of the liquidation their balance sheet appeared as follows:

Required:

Under the assumption that the machinery is sold and the cash is distributed to the proper parties on June $30.2023,$ complete the schedule provided below. Show the sale, the gain or loss allocation, and the distribution of the cash in each of the fdllowing unrelated cases:

a$.$ The machinery is sold for $$508,000.($Negotive answers should be indicated by a minus sign.$)$

o$.$ The machinery is sold for $$508\mathrm{.}000.($Negative answers should be indicated by a minus sign.$)$

$\backslash$table$[[,$cash,$\backslash$table$[[$Premilum Pool and spa$],[$Jume $20,2023]],\backslash$table$[[$Jim Lui,$],[$Capital$]],\backslash$table$[[$Kent$],[$Montavo$,],[$Capital$]],\backslash$table$[[$Dave$],[$Johnson$,],[$Capital$]]],[,$Machmary,$\backslash$table$[[$Aceum$.],[$Deprec$.,],[$Machinery$]],\backslash$table$[[$Accounts$],[$Payable$]]],[$Account balances June $30,2023],[$Sale of Machinery for $$508,000$

$$ Required:

$1$a$,1$b$,1$c$,1$d & $2.$