William Dione, Julie Porter, and Regina Westlake started a partnership to operate a courier service. The partnership (DP&W Couriers) had the following transactions:

2012 Jan. 2 Dione, Porter, and Westlake formed the partnership by signing an agreement that stated that all profits would be shared in a 2:3:5 ratio and by making the following investments:

                _________________________________________Dione            Porter        Westlake

Cash ....................................................................... $12,000...........$ 8,000...........$14,000

Accounts receivable (net) .........................................20,000............14,500............60,000

Office furniture (net) .........................................................0..................0............15,000

Vehicles (net) ............................................................21,000............38,500...................0

Dec. 31 The partnership reported net income of $53,500 for the year.

2013 Jun. 7 Dione and Westlake agreed that Porter could sell her share of the partnership to Ray Ewing for $82,500. The new partners agreed to keep the same profit-sharing arrangement (2:3:5 for Dione:Ewing:Westlake).

Dec. 31 The partnership reported a net loss of $67,000 for the year.

2014 Jan. 3 The partners agreed to liquidate the partnership. On this date, the balance sheet showed the following items (all accounts have their normal balances):

Cash .......................................................................................................... $ 17,500

Accounts receivable ................................................................................... 316,000

Allowance for uncollectible accounts.......................................................... 22,500

Office furniture ........................................................................................... 74,500

Vehicles ..................................................................................................... 240,000

Accumulated amortization (total) ............................................................... 49,500

Accounts payable....................................................................................... 386,500

The assets were sold for the following amounts:

Accounts receivable ................................................................................ $190,000

Office furniture ........................................................................................... 82,500

Vehicles .................................................................................................... 106,000

Dione and Ewing both have personal assets, but Westlake does not.

Required

Journalize all of the transactions for the partnership.