The partnership of Butler, Osman, and Ward 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 $48,000 are expected. The partnership balance sheet at the start of liquidation is as follows:

Cash	$	44,000		Liabilities	$	184,000
Accounts receivable		74,000		Butler, loan		44,000
Office equipment (net)		64,000		Butler, capital (25%)		120,000
Building (net)		180,000		Osman, capital (25%)		44,000
Land		170,000		Ward, capital (50%)		140,000
Total assets	$	532,000		Total liabilities and capital	$	532,000

The following transactions transpire in chronological order during the liquidation of the partnership:

a. Collected 90 percent of the accounts receivable and wrote the remainder off as uncollectible.

b. Sold the office equipment for $27,000, the building for $134,000, and the land for $176,000.

c. Distributed safe payments of cash.

d. Paid all liabilities in full.

e. Paid actual liquidation expenses of $37,000 only.

f. Made final cash distributions to the partners.

Prepare journal entries to record these liquidation transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)