$[$The following information applies to the questions displayed below.$]$ The partnership of Garcia, Iglesias, and Kassabian was formed several years ago as a local tax preparation firm. Two partners have reached retirement age, and the partners have decided to terminate operations and liquidate the business. Liquidation expenses of $$50,000$ are expected. The partnership balance sheet at the start of liquidation is as follows: Cash $ $46,000$ Liabilities $ $186,000$ Accounts receivable $76,000$ Garcia, loan $46,000$ Office equipment $($net$)66,000$ Garcia, capital $(25\%)130,000$ Building $($net$)190,000$ Iglesias, capital $(25\%)46,000$ Land $180,000$ Kassabian, capital $(50\%)150,000$ Total assets $ $558,000$ Total liabilities and capital $ $558,000$ The following transactions transpire in chronological order during the liquidation of the partnership: Collected $90$ percent of the accounts receivable and wrote the remainder off as uncollectible. Sold the office equipment for $$28,000,$ the building for $$142,000,$ and the land for $$184,000.$ Distributed safe payments of cash. Paid all liabilities in full. Paid actual liquidation expenses of $$38,000$ only. Made final cash distributions to the partners. Required: Prepare journal entries to record these liquidation transactions.Journal entry worksheet Note: Enter debits before credits.