March, April, and May have been in partnership for a number of years. The partners allocate all profits and losses on a 3:3:2 basis, respectively. Recently, each partner has become personally insolvent and, thus, the partners have decided to liquidate the business in hopes of remedying their personal financial problems. As of September 1, the partnership's balance sheet is as follows: Cash Liabilities 74,000 16,000 94,000 85,000 S March, capital April, capital May, capital Total liabilities and capital Accounts receivable 33,000 80,000 51,000 Inventory Land, building, and equipment (net) 43,000 $ 238,000 $ 238,000 Total assets Prepare journal entries for the following transactions: (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) a. Sold all inventory for $61,000 cash. b. Paid $9,000 in liquidation expenses. c. Paid $45,000 of the partnership's liabilities. d. Collected $55,000 of the accounts receivable. e. Distributed safe cash balances, the partners anticipate no further liquidation expenses. f. Sold remaining accounts receivable for 20 percent of face value. g. Sold land, building, and equipment for $22,000. h. Paid all remaining liabilities of the partnership. i. Distributed cash held by the business to the partners