Statement of Partnership Liquidation and April 30 , the noncash assets are sold for $27,100, the partner with the capital deficiency pays the deficiency to the partnership, and the liabilities are paid. Required: and (d) the distribution of cash. enter 0. Fairchild, Lowes, and Howard Statement of Partnership Liquidation For the Period April 10-30 Balances before realization 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. b. Journalize the entry to distribute the remaining cash. If an amount box does not require an entry, leave it blank