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PF.3 [LO3) The partners in Crawford Company decide to liquidatie firm when the statement of finan cial position shows the following Assets Equipment Acum depreciat e Investory Accounts receivable Allowance f ubful accounts Crawford Company Statement of Financial Position May 31, 2020 Equity and Liabilities 21.000 A. Jamison, capital EXO (5.00) S. Moyer, capital 21.00 34.500 P. Roper, capital LO 25.0 Notes payable ISO (1.000) Acts payable 27.500 Salaries and was payable 101.500 101.500 The partners share income and loss 5:32. During the process of pidation, the following transactions were completed in the following sequence L. A ST.000 was received from converting on-caths into cash 2. Giorno realization was allocated to partners 3. Liabilities were paid in full. 4. P. Roper paid his capital deficiency 5. Cash was paid to the partners with credit balances Instructions a. Prepare the entries to record the transactions b. Post to the cash and capital accounts c. Assume that Roper is unable to pay the capital deficiency. 1. Prepare the entry to allocate Reper's debit balance to Jamics and Meyer 2. Prepare the entry to record the final distribution of cash a. Loss on realization C23,000 Cash paid to Jamison 21,500 to Mayer 14,100