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 $9,500. At the date the partnership ceases operations, the balance sheet is as follows: Cash Noncash assets $ 59,000 180,000 Liabilities Alex, capital Bons, capital Total liabilities and capital $ 44,500 108,000 86,500 $ 239,000 Total assets $ 239,000 Part A: Prepare journal entries for the following transactions that occurred in chronological order: Distributed safe cash payments to the partners b. Paid $26.700 of the partnership's liabilities: c. Sold noncash assets for $194,500. d. Distributed sofe cash payments to the partners. e. Paid remaining partnership liabilities of $17,800. f. Paid $7.600 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. Pald $26,700 of the partnership's liabilities, c. Sold noncash assets for $194,500. d. Distributed safe cash payments to the partners. e. Paid remaining partnership liabilities of $17,800. f. Paid $7,600 in liquidation expenses; no further expenses will be incurred. g. Distributed remaining cash held by the business to the partners. Show less View transaction list Journal entry worksheet 3 4 5 6 On 7 >