Martha Wheaton, Bess Chen, and Sam Smith were partners in an urban Calgary tea shop called Wake and showed the following account balances as of December 31, 2020:

	Cash				Building				Accum. Deprec. Building				Land				Accounts Payable				Martha Wheaton, Capital				Bess Chen, Capital				Sam Smith, Capital
Account balances December 31, 2020	$	194,000			$	844,000			$	490,000			$	218,000			$	138,000			$	336,000			$	(62,000	)		$	354,000

Due to difficulties, the partners decided to liquidate the partnership. The land and building were sold for $709,000 on January 1, 2021. The partners share any profit (loss) in the ratio of 2:1:1 for Wheaton, Chen, and Smith, respectively. Capital deficiencies at liquidation are absorbed by the remaining partners according to their income (loss) ratio. Required: 1.Complete the schedule. Prepare the entry to distribute the remaining cash to the partners. (Negative answers should be indicated by a minus sign.)

2.Record the distribution of remaining cash to partners.