Problem 12-03A a-c (Part Level Submission) (Video) The partners in Pharoah Company decide to liquidate the firm when the balance sheet shows the following. Pharoah Company Balance Sheet May 31, 2020 Assets Liabilities and Owners Equity Cash $29,900 Notes payable $13,600 Accounts receivable 25,500 Accounts payable 26,700 Allowance for doubtful accounts (1,100 ) Salaries and wages payable 3,800 Inventory 35,000 A. Jamison, capital 32,600 Equipment 20,900 S. Moyer, capital 25,800 Accumulated depreciationequipment (5,300 ) P. Roper, capital 2,400 $104,900 $104,900 The partners share income and loss 5:3:2. During the process of liquidation, the following transactions were completed in the following sequence. 1. A total of $56,600 was received from converting noncash assets into cash. 2. Gain or loss on realization was allocated to partners. 3. Liabilities were paid in full. 4. P. Roper paid his capital deficiency. 5. Cash was paid to the partners with credit balances.

Prepare the entries to record the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit 1. select an account title to record the first transactionEntry field with incorrect answer enter a debit amountEntry field with incorrect answer enter a credit amountEntry field with incorrect answer select an account title to record the first transactionEntry field with incorrect answer enter a debit amountEntry field with incorrect answer enter a credit amountEntry field with incorrect answer select an account title to record the first transactionEntry field with incorrect answer enter a debit amountEntry field with incorrect answer enter a credit amountEntry field with incorrect answer select an account title to record the first transactionEntry field with incorrect answer enter a debit amountEntry field with incorrect answer enter a credit amountEntry field with incorrect answer select an account title to record the first transactionEntry field with incorrect answer enter a debit amountEntry field with incorrect answer enter a credit amountEntry field with incorrect answer select an account title to record the first transactionEntry field with incorrect answer enter a debit amountEntry field with incorrect answer enter a credit amountEntry field with incorrect answer select an account title to record the first transactionEntry field with incorrect answer enter a debit amountEntry field with incorrect answer enter a credit amountEntry field with incorrect answer 2. select an account title to record the second transactionEntry field with incorrect answer enter a debit amountEntry field with incorrect answer enter a credit amountEntry field with incorrect answer select an account title to record the second transactionEntry field with incorrect answer enter a debit amountEntry field with incorrect answer enter a credit amountEntry field with incorrect answer select an account title to record the second transactionEntry field with incorrect answer enter a debit amountEntry field with incorrect answer enter a credit amountEntry field with incorrect answer select an account title to record the second transactionEntry field with incorrect answer enter a debit amountEntry field with incorrect answer enter a credit amountEntry field with incorrect answer 3. select an account title to record the third transactionEntry field with incorrect answer enter a debit amountEntry field with incorrect answer enter a credit amountEntry field with incorrect answer select an account title to record the third transactionEntry field with incorrect answer enter a debit amountEntry field with incorrect answer enter a credit amountEntry field with incorrect answer select an account title to record the third transactionEntry field with incorrect answer enter a debit amountEntry field with incorrect answer enter a credit amountEntry field with incorrect answer select an account title to record the third transactionEntry field with incorrect answer enter a debit amountEntry field with incorrect answer enter a credit amountEntry field with incorrect answer 4. select an account title to record the fourth transactionEntry field with incorrect answer enter a debit amountEntry field with incorrect answer enter a credit amountEntry field with incorrect answer select an account title to record the fourth transactionEntry field with incorrect answer enter a debit amountEntry field with incorrect answer enter a credit amountEntry field with incorrect answer 5. select an account title to record the fifth transactionEntry field with incorrect answer enter a debit amountEntry field with incorrect answer enter a credit amountEntry field with incorrect answer select an account title to record the fifth transactionEntry field with incorrect answer enter a debit amountEntry field with incorrect answer enter a credit amountEntry field with incorrect answer select an account title to record the fifth transactionEntry field with incorrect answer enter a debit amountEntry field with incorrect answer enter a credit amountEntry field with incorrect answer