mcdonalds. is shutting down business and liquidating. The balances below will be used for the liquidation. john and brad share profits and losses equally. Cash $3,000 Notes Payable $7,500 vehicle 30,000 Less: Accumulated Depreciation 15,000 Bert, Capital 9,000 Ernie, Capital 1,500 Total Assets $18,000 Total Liabilities and Partner's equity $18,000 Sesame Street Co. Balance Sheet December 31, 2020 Assets Liabilities Partners' Equity The vehicle has been sold for $10,500 cash and neither partner has sufficient assets to pay any capital deficits. REQUIRED: Prepare the journal entries for the sale of the vehicle and the distribution of the cash to the proper parties on January 1, 2021 below.