Myles Etter and Crystal Santori are partners who share in the income equally and have capital balances of $174,300 and $50,140, respectively. Etter, with the content of Santor Bells one-third of his interest to Lonnie Davis. Assume the sale occurs on December 31. What entry is required by the partnership if the sales price is (a) $58, 1007 (b) $77,1007 Refer to the Chart of Accounts for exact wording of account titles. Chart of Accounts ASSETS REVENUE 110 Cash 410 Sales 111 Petty Cash 610 Interest Revenue 112 Accounts Receivable 113 Allowance for Doubtful Accounts 114 Interest Receivable 115 Notes Receivable 116 Inventory 117 Office Supplies 118 Store Supplies 119 Prepaid Insurance 120 Land EXPENSES 510 Cost of Merchandise Sold 520 Salaries Expense 521 Advertising Expense 522 Depreciation Expense-Equipment 523 Delivery Expense 524 Repairs Expense 529 Selling Expenses 531 Rent Expense 533 Insurance Expense 534 Office Supplies Expense 535 Store Supplies Expense 536 Credit Card Expense 537 Cash Short and Over 538 Bad Debt Expense 539 Miscellaneous Expense 710 Interest Expense 123 Equipment 124 Accumulated Depreciation Equipment 129 Asset Revaluations 133 Patent LIABILITIES 210 Accounts Payable 211 Salaries Payable 213 Sales Tax Payable 214 Interest Payable 215 Notes Payable Assume the sale occurs on December 31. Refer to the Chart of Accounts for exact wording of account stes Somol down to access parts (a) and (b) of the exercise (a) What entry is required by the partnership the sales price is $58,1007 PAGE 10 JOURNAL ACCOUNTING EQUATION POST, CREDIT ASSETS LIABILITIES (b) What entry is required by the partnership the sales price is $77,100? PAGE 10 JOURNAL ACCOUNTING EQUATION DESCRIPTION POST. MER ASSETS LABILITIES QUITY