roblem 12-03A a-c (Part Level Submission) (Video) the partners in Wildhorse Company decide to liquidate the firm when the balance sheet shows the following. Assets Cash Accounts receivable Allowance for doubtful accounts Inventory Equipment Accumulated depreciation equipment Wildhorse Company Balance Sheet May 31, 2020 Liabilities and Owners' Equity $28,200 Notes payable 24,800 Accounts payable (1,100) Salaries and wages payable 34,900 A. Jamison, capital 20,800 S. Moyer, capital (5,900) P. Roper, capital $13,300 27,400 4,300 34,000 20,300 2,400 $101,700 $101,700 The partners share income and loss 5:3:2. During the process of liquidation, the following transactions were completed in the followi 1. A total of $55,100 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. (a) Your answer is partially correct. Try again. Prepare the entries to record the transactions. (Credit account titles are automatically indented when amount is entered. Do not like No. Account Titles and Explanation Debit Credit 1. Cash | Allowance for Doubtful Accounts Inventory m uncements Accumulated Depreciation-Equipment Accounts Receivable 24800 Gain on Realization 2. P. Roper, Capital 3680 T A. Jamison, Capital 9200 TS. Moyer, Capital T Loss on Realization 18400 3. Notes Payable Accounts Payable Salaries and Wages Payable Cash 45000 4. Cash PEL TP. Roper, Capital 5. TA. Jamison, Capital T S. Mayer, Capital Cash Click if you would like to Show Work for this question: Open Show Work Post to the cash and capital accounts. (Post entries in the order of journal entries presented in the previo for the account.) Cash Bal. S. Moyer, Capital Bal. A. Jamison, Capital Bal. Bal Bal. P. Roper, Capital Bal. Click if you would like to Show Work for this question: Open Show Work