Problem 15-21 (Algo) (LO 15-2, 15-3, 15-5) Alex and Bess have been in partnership for many years. The partners, who share profits and losses on a 60:40 basis, respectively, wish to retire and have agreed to liquidate the business. Liquidation expenses are estimated to be $9,000. At the date the partnership ceases operations, the balance sheet is as follows: Cash Noncash assets $ 58,000 170,000 Liabilities Alex, capital Bess, capital $ 44,000 102,000 82,000 Total assets $ 228,000 Total liabilities and capital $ 228,000 Part A: Prepare journal entries for the following transactions that occurred in chronological order: a. Distributed safe cash payments to the partners. b. Paid $26,400 of the partnership's liabilities. c. Sold noncash assets for $184,000. d. Distributed safe cash payments to the partners. e. Pald remaining partnership liabilities of $17,600. f. Paid $7,200 in liquidation expenses; no further expenses will be incurred. g. Distributed remaining cash held by the business to the partners. Part B: Prepare a final statement of partnership liquidation. Complete this question by entering your answers in the tabs below. Required A Required B Prepare journal entries for the following transactions that occurred in chronological order: (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) a. Distributed safe cash payments to the partners. b. Paid $26,400 of the partnership's liabilities. c. Sold noncash assets for $184,000. d. Distributed safe cash payments to the partners. e. Paid remaining partnership liabilities of $17,600. f. Paid $7,200 in liquidation expenses; no further expenses will be incurred. g. Distributed remaining cash held by the business to the partners. Show less