Problem 15-27 (Algo) (LO 15-2)\ Agarwal, Bergeron, and Cishek have been in parthership for a number of years. The partners allocate all profits and losses on a 2-3:1\ basis, respectively. Recently, each partner has become personally insolvent and, thus, the partners have decided to liquidate the\ business in hopes of remedying their personal financial problems. As of September 1, the partnership's balance sheet is as follows:\ Requlred:\ Prepare journal entries for the following transactions:\ Note: Do not round Intermedlate colculatlons. If no entry ls requlred for a tronsectlon/event, select "No journol entry requlred" In\ the flrst eccount fleld.\ a. Sold all inventory for

$78,000

cash.\ b. Paid

$14,100

in liquidation expenses.\ c. Paid

$62,000

of the parthership's liabilities.\ d. Collected

$83,000

of the accounts receivable.\ e. Distributed safe payments of cash; the partners anticipate no further liquidation expenses.\ f. Sold remaining accounts receivable for 30 percent of face value.\ g. Sold land, building, and equipment for

$39,000

.\ h. Paid all remaining liabilities of the partnership.\ i. Distributed cash held by the business to the partners.