PLEASE HELP!!!
Required information [The following information applies to the questions displayed below.] Turner, Roth, and Lowe are partners who share income and loss in a 2:3:5 ratio (in percents: Turner, 20\%; Roth, 30\%; and Lowe, 50\%). The partners decide to liquidate the partnership. Immediately before liquidation, the partnership balance sheet shows total assets, $159,600; total liabilities, $106,000; Turner, Capital, \$5,300; Roth, Capital, $15,400; and Lowe, Capital, $32,900. The liquidation resulted in a loss of $95,600. equired: - Allocate the loss to the partners. . Determine how much each partner should contribute to the partnership to cover any remaining capital deficiency. Complete this question by entering your answers in the tabs below. Allocate the loss to the partners. (Losses and deficits should be indicated with a minus sign.) Prepare journal entries to record the following under (a) the direct write-off method and (b) the allowance method. May 3 Sal Company determines that it cannot collect its accounts receivable of $2,000 from Joey Company. May 21 Sal Company unexpectedly receives payment of $2,000 cash from Joey Company toward its previously written-of account. Sal records recovery of this bad debt. Complete this question by entering your answers in the tabs below. Prepare journal entries to record the allowance method. Journal entry worksheet Sal Company determines that it cannot collect its accounts receivable of $2,000 from Joey Company. Note: Enter debits before credits. Required information [The following information applies to the questions displayed below.] Turner, Roth, and Lowe are partners who share income and loss in a 2:3:5 ratio (in percents: Turner, 20\%; Roth, 30\%; and Lowe, 50\%). The partners decide to liquidate the partnership. Immediately before liquidation, the partnership balance sheet shows total assets, $159,600; total liabilities, $106,000; Turner, Capital, \$5,300; Roth, Capital, $15,400; and Lowe, Capital, $32,900. The liquidation resulted in a loss of $95,600. equired: - Allocate the loss to the partners. . Determine how much each partner should contribute to the partnership to cover any remaining capital deficiency. Complete this question by entering your answers in the tabs below. Allocate the loss to the partners. (Losses and deficits should be indicated with a minus sign.) Prepare journal entries to record the following under (a) the direct write-off method and (b) the allowance method. May 3 Sal Company determines that it cannot collect its accounts receivable of $2,000 from Joey Company. May 21 Sal Company unexpectedly receives payment of $2,000 cash from Joey Company toward its previously written-of account. Sal records recovery of this bad debt. Complete this question by entering your answers in the tabs below. Prepare journal entries to record the allowance method. Journal entry worksheet Sal Company determines that it cannot collect its accounts receivable of $2,000 from Joey Company. Note: Enter debits before credits
