March, April, and May have been in partnership for a number of years. The partners allocate all profits and losses on a 4:2:2 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 Accounts receivable Inventory Land, building, and equipment (net) Total assets $ 35, eee 132,eee 122,eee 71.ee $360,eee Liabilities March, capital April, capital May, capital Total liabilities and capital $ 131,000 60,eee 99,000 70,000 $360,eee 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 $80.000 cash. b. Pald $14,700 in liquidation expenses. c. Pald $64.000 of the partnership's llabilities. d. Collected $84.000 of the accounts receivable. e. Distributed safe payments of cash the partners anticipate no further liquidation expenses. f. Sold remaining accounts receivable for 35 percent of face value. g. Sold land, building, and equipment for $41,000. h. Pald all remaining liabilities of the partnership 1. Distributed cash held by the business to the partners