S David Wallace, Olena Dunn, and Danny Lin were partners in a commercial architect firm and showed the following account balances as of December 31, 2023: Account balances December 31, 2023 Due to several unprofitable periods, the partners decided to liquidate the partnership. The equipment was sold for $61,000 on January 1, 2024. The partners share any profit (loss) in the ratio of 2:1:1 for Wallace, Dunn, and Lin, respectively. Account balances December 31, 2023 Sale of equipment Cash $23,500 Required: 1. Complete the schedule. (Negative answers should be indicated by a minus sign.) Balance Cash Accum. David Olena Dunn, Deprec. Accounts Notes Wallace, Equipment Equipment Payable Payable Capital Capital $167,000 $94,000 $7,500 $17,000 $36,000 $19,000 $ Equipment $ 23,500 $ 167,000 Accum. Deprec. Equipment $ Accounts Payable 94,000 $ Notes Payable 7,500 $ 17,000 $ David Wallace, Capital 36,000 $ Ole Dui Cap

David Wallace, Olena Dunn, and Danny Lin were partners in a commercial architect firm and showed the following account balances as of December 31,2023 . Due to several unprofitable periods, the partners decided to liquidate the partnership. The equipment was sold for $61,000 on January 1,2024. The partners share any profit (loss) in the ratio of 211 for Wallace. Dunn, and Lin, respectively Required: 1. Complete the schedule (Negative answers should be indicated by a minus sign.)