The Field, Brown & Snow are partners and share income and losses equality. The partner decide to liquidate the partnership when their capital balances are as follows: Field, $131,800, Brown, $166,100; and Snow, $153,500. On May 31, the liquidation resulted in a loss of $407,100. QS 12-13 (Algo) Part 1 1. Compute the capital account balance of each partner after the loss from liquidation is allocated. (Losses and negative capital balances, if any, should be entered with a minus sign.) Initial investments Loss allocation Field $ 131,800 (135,700) $ (3,900) Brown $ 166,100 (135,700) $ (30.400) 1/3 1/3 Snow Total $ 153,500 $ 451,400 (135,700) (407,100) 17,800 $ 44,300 Capital balances Journal entry worksheet Record the cash received to cover the deficit. Note: Enter debits before credits. General Journal Debit Credit Transaction (a) Cash Field, Capital Journal entry worksheet