X, Y and Z are partners and sharing income and loss in a 32:1 ratio respectively. They decided to liquidate the partnership Before the tal detribution of the temning cash to the partners, X has a capital balance of $ (18,000), Y has a capital balance of $42,000 and Z has a capital balance of $30,000 Cash balance is $54,000. Partner A paid the amount he owes the partnership in cash. Required: Prepare journal entries to record the above liquidation process. YOUR ANSWER SHOULD BE IN THE FOLLOWING FORM, DO NOT USE BETWEEN NUMBERS Dr. Cash 100000 Cr Land 100000 For the toolbar, press ALT+F10 (PC or ALT+FN+F10 (Mac w save this respon Question 7 Isa, a new partner, contributed 570,000 cash plus machines valued at $35,000 to the partnership. This transacon is receded by the way OA. Dr. Cash $70,000 $35,000 Dr. Machines Cr. Isa Capital $105,000 OB. Dr Assets $105,000 Cr. Partnership Capital $105,000. Oc. Dr. Isa Capital $105,000 Cr. Cash $70,000 Cr. Machines $35,000 OD. Dr. Cash $70,000 Dr. Machines $35,000 Cr. Partnership Capital $105,000