The ones that are marked wrong, i have no idea on what the answer may be..

Kendra, Cogley, and Mei share income and loss in a 3:2:1 ratio. The partners have decided to liquidate their partnership. On the day of liquidation their balance sheet appears as follows. KENDRA, COGLEY, AND MEI Balance Sheet May 31 Liabilities and Assets Equity Accounts payable Kendra, Capital Cogley, Capital Mei, Capital Cash $245,500 93,000 212,500 167,000 $180,800 537,200 Inventory Total liabilities Total $718,000 $718,000 and equity assets Required: For each of the following scenarios, complete the schedule allocating the gain or loss on the sale of inventory. Prepare journal entries to record the below transactions. (Do not round intermediate calculations. Amounts to be deducted or Losses should be entered with a minus sign. Round your final answers to the nearest whole dollar.) 1. Inventory is sold for $600,000. 2. Inventory is sold for $500,000. 3. Inventory is sold for $320,000 4. Inventory is sold for $250,000 and the partners have no assets other than those invested in the partnership. cits any partners with capital deficits pay in the amount of X Answer is not complete. Complete this question by entering your answers in the tabs below. Required Required Required Required Required Required Required Required 2 GJ 3 GJ 4 GJ 1 GJ 2 3 4 1 Complete the schedule allocating the gain or loss on the sale of inventory is $500,000. Step 1) Determination of Gain (Loss) Proceeds from the sale of inventory Inventory cost Loss on sale $ 500,000 537,200 $ (37,200) Step 2) Allocation of the Gain (Loss) to the Partners. COGLEY Total KENDRA MEI $ $ 93,000 $212,500 Initial capital balances 167,000 472,500 1 2 Allocation of gains (losses) 3 Capital balances after gains (losses) $ $ $ 93,000 $212,500 167,000 472,500