This is all part of one question, please please help due tonight at midnight!!!

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. Assets Cash Inventory KENDRA, COGLEY, AND MEI Balance Sheet May 31 Liabilities and Equity $ 81,400 Accounts payable 546,600 Kendra, Capital Cogley, Capital Mei, Capital $628,000 Total liabilities and equity $ 253,500 74,900 168,525 131,075 $628,000 Total 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 $612,000. (2) Inventory is sold for $461,400. (3) Inventory is sold for $300,600 and any partners with capital deficits pay in the amount of their deficits. (4) Inventory is sold for $248,400 and the partners have no assets other than those invested in the partnership. Complete this question by entering your answers in the tabs below. Required 1 Inventory Required 1 GJ Required 2 Inventory Required 2 G) Required 3 Inventory Required 3 G Required 4 Inventory Required 4 G) Complete the schedule allocating the gain or loss on the sale of inventory is $612,000. Step 1) Determination of Gain (Loss) Proceeds from the sale of inventory Inventory cost $ 612,000 Step 2) Allocation of the Gain (Loss) to the Partners. KENDRA Initial capital balances $ 74,900 Allocation of gains (losses) Capital balances after gains (losses) $ 74,900 COGLEY 168,525 MEI 131,075 $ Total 374,500 $ $ 0 EA 168,525 $ 131,075 $ 374,500 Required 1 Inventory Required 1 GJ > ! 1 Record the sale of inventory. > 2 Allocate the gain(loss) on the sale of inventory to the partners. 3 Record the payment of the liabilities. 4 Record the disbursement of the remaining cash to the partners. Credit Note : = journal entry has been entered Record entry Clear entry View general journal Complete this question by entering your answers in the tabs below. Required 1 Inventory Required 1 GJ Required 2 Inventory Required 2 G Required 3 Inventory Required 3 G) Required 4 Inventory Required 4 G] Complete the schedule allocating the gain or loss on the sale of inventory is $461,400. Step 1) Determination of Gain (Loss) Proceeds from the sale of inventory Inventory cost $ 461,400 COGLEY Step 2) Allocation of the gain (Loss) to the Partners. KENDRA Initial capital balances $ 74,900 Allocation of gains (losses) Capital balances after gains (losses) $ 74,900 $ 168,525 $ MEI Total 131,075 $ 374,500 0 131,075 $ 374,500 $ 168,525 $ View transaction list X: 1 Record the sale of inventory. > 2 Allocate the gain(loss) on the sale of inventory to the partners. 3 Record the payment of the liabilities. 4 Record the disbursement of the remaining cash to the partners. Credit Note : journal entry has been entered Complete this question by entering your answers in the tabs below. Required 1 Inventory Required 1 GJ Required 2 Inventory Required 2 G Required 3 Inventory Required 3 G Required 4 Inventory Required 4 GJ Complete the schedule allocating the gain or loss on the sale of inventory is $300,600 and any partners with capital deficits pay in the amount of their deficits. Step 1) Determination of Gain (Loss) Proceeds from the sale of inventory Inventory cost $ 300,600 Step 2) Allocation of the Gain (Loss) to the Partners. KENDRA COGLEY MEI Total 131,075 $ 374,500 $ 74,900 $ 168,525 $ Initial capital balances Allocation of gains (losses) Capital balances after gains (losses) 0 $ 74,900 $ 168,525 $ 131,075 $ 374,500 nu X: x 1 Record the sale of inventory. > 2 Allocate the gain(loss) on the sale of inventory to the partners. 3 The partner(s) with deficit balances repay the amount of their deficit(s). 4 Record the payment of the liabilities. Credit 5 Record the disbursement of the remaining cash to the partners. Note : = journal entry has been entered Required 1 Inventory Required 1 1 G) Required 2 Inventory Required 2G) Required 3 Inventory Required 3 G) Required 4 Inventory Required 4 G Complete the schedule allocating the gain or loss on the sale of inventory $248,400 and the partners have no assets other than thos invested in the partnership. Step 1) Determination of gain (loss) Proceeds from the sale of inventory Inventory Cost $ 248,400 MEI Total $ 131,075 $ 374,500 Step 2) Allocation of the gain (loss) to the partners and distribution of deficit(s) KENDRA COGLEY Initial capital balances $ 74,900 $ 168,525 Allocation of gains (losses) Capital balances after gains (losses) 74,900 168,525 Allocation of deficit balance Capital balances after deficit allocation $ 74,900 $ 168,525 131,075 374,500 0 $ 131,075 $ 374,500 X Record the sale of inventory for $248,400. 1 > 2 Record the allocation of the gain or loss on the sale of inventory to the partners. 3 Assuming that the partners have no assets other than those invested, allocate any partner(s) deficit balances to the remaining partners. Credit 4 Record the payment of the liabilities. 5 Record the disbursement of the remaining cash to the partner(s). Note : = journal entry has been entered Record entry Clear entry View general journal