Martha Wheaton, Bess Chen, and Sam Smith were partners in an urban Calgary tea stop called Wake and showed the towy account balances as of December 31, 2020 $197.NO 5-850,00 $493, Account balances December 31, 2020 Due to difficulties, the partners decided to liquidate the partnership. The land and building were sold for $728.000 on January 2011 The partners share any profit (loss) in the ratio of 2.11 for Wheaton, Chen, and Smith, respectively. Capital deficiencies at don me absorbed by the remaining partners according to their income (loss) ratio. Required: Complete the schedule. Prepare the entry to distribute the remaining cash to the partners. (Negative answers should be indicated to a minus sign.) Cash Accum Accounts Building Deprec Payable CW Building $ 850,000 $ 493,000 $ 221,000 $ 141,000 $ (65000) 342 000 $ $ 197,000 Account balances December 31, 2020 Sale of land and building Balance Payment of liabilities Falance somtion of deficiency 3. Due to difficulties, the partners decided to liquidate the partnership. The land and building were sold for $718.000 on arvaty 1, 2021 The partners share any profit floss) in the ratio of 211 for Wheaton, Chen, and Smith, respectively Capital deficiencies a liquidation are absorbed by the remaining partners according to their income loss) ratio Required: Complete the schedule. Prepare the entry to distribute the remaining cash to the partners. (Negative answers should be indicated by a minus sign.) 09 5 141.000 342.000 $ (65000) 5 357.000 493,000 $ 221,000 S $ 197,000 $ 850,000 s Account balances December 31, 2020 Sale of land and building Balance Payment of liabilities Balance Absorption of deficiency Balance Record the distribution of remaining cash to partners. Note: Enter debits before credits. Debit Credh General Journal Date Jan 01, 2021 View general jou Clear entry Record entry