Problem 10-21 (LO 10-2, 10-4) Alex and Bess have been in partnership for many years. The partners, who share profits and losses on a 70:30 basis, respectively wish to retire and have agreed to liquidate the business. Liquidation expenses are estimated to be $4.000. At the date the partnership ceases operations, the balance sheet is as follows: 60,000 Liabilities 45,000 Cash Noncash assets 190,090 Alex, capital 133,00 72,090 Bess, capital Total assets $250,008 Total liabilities and capital $258,000 Part A: Prepare journal entries for the following transactions a. Distributed safe cash payments to the partners b. Paid $27,000 of the partnership's liabilities. c. Sold noncash assets for $205,000. d. Distributed safe cash payments to the partners e. Paid remaining partnership liabilities of $18.000 t. Paid $2.000 in liquidation expenses; no further expenses will be incurred g. Distributed remaining cash held by the business to the partners