sold for $32,500, the partner with the capital deficiency pays the deficiency to the partnership, and the liabilities are paid. Required: distribution of cash. 2. Assume that the partner with the capital deficiency declares bankruptcy and is unable to pay the deficiency. a. Journalize the entry to allocate the partner's deficiency. If an amount box does not require an entry, leave it blank. w. suarianke wis erimy us uistribute the remaining cash. If an amount box does not require an entry, leave it blank