Pharoah Company wishes to liquidate the firm by distributing the companys cash to the three partners. Prior to the distribution of cash, the companys balances are Cash $69,600; Oakley, Capital (Cr.) $48,100; Quaney, Capital (Dr.) $19,740; and Ellis, Capital (Cr.) $41,240. The income ratios of the three partners are 3 : 4 : 3, respectively. Prepare the entry to record the absorption of Quaneys capital deficiency by the other partners and the distribution of cash to the partners with credit balances. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Account Titles and Explanation	Debit	Credit
	enter a debit amount	enter a credit amount
	enter a debit amount	enter a credit amount
	enter a debit amount	enter a credit amount
(To record write-off of capital deficiency)
	enter a debit amount	enter a credit amount
	enter a debit amount	enter a credit amount
select an account title to record distribution of cash to the partners	enter a debit amount	enter a credit amount
(To record distribution of cash to the partners)