Statmment of Partnershio Liguidation Ater the accounts are clowed on April 10, pror to liquidating the portherhip, the capital accounts of Zach Fairchild, Austin Lowes, and Amber Howard are $34,400, $6,300, and $28,300, respectively. Cash and noncash assets total $8,800 and $69,000, respectively. Amounts owed to creditors total $8,800. The parthers share income and losses in the ratio of 111-2, between Aprit 10 and April 30 , the noncash assets are sold for $36,600, the parther with the capital deficlency pays the deficiency to the parthership, and the liablicies are poid. Requiredi 1. Prepare a statement of parthership lieuidation; indicating (a) the sale of assets and division of loss, (b) the payment of labilities, (c) the receipt of the deficiency (from the appropriate perther), and (0) the c stribution of cash. Enter amy subtractions (balance deficiencies, payments, cash distributions, divisions of loss, sale of assets) as negative numbers using a minus sign. If there is no amount or an amount is zero, enser " 0 ", 2. Assume the partner with the capital deficiency deelares bankruptcy and is unable to pay the deficiency. a. Joumalie the entry to allocate the partner's deficiency. For a compound transaction, if an amount box does not require an entry, leave it blank. b. Journalize the entry to distribute the remaining cash. For a compound transaction, if an amount box does not require an entry, leave is blank. b. Joumalite the entry to distribute the remaining cash. For a compound transaction, if an amount box does not require an entry, leave it blank