uick, Drake, and Sage 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. QUICK, DRAKE, AND SAGE Balance Sheet May 31 Assets Liabilities and Equity Cash $ 90,400 Accounts payable $ 122,750 Inventory 268,600 Quick, Capital 46,500 Drake, Capital 106,250 Sage, Capital 83,500 Total assets $ 359,000 Total liabilities and equity $ 359,000 Required: Prepare journal entries for (a) the sale of inventory, (b) the allocation of its gain or loss, (c) the payment of liabilities at book value, and (d) the distribution of cash in each of the following separate cases. (Do not round intermediate calculations and round your final answers to the nearest dollar amount. Omit the "$" sign in your response.)