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Martha Wheaton Bess Jones and Sam Dun were partners and showed the following account balances as of December 31 2014 Due to difficulties the partners decided

Martha Wheaton, Bess Jones, and Sam Dun were partners and showed the following account balances as of December 31, 2014:  Due to difficulties, the partners decided to liquidate the partnership. The land and building were sold for $680,000 on January 1, 2015. The partners share any income (loss) in the ratio of 2:1:1 for Wheaton, Jones, and Dun respectively. Required Prepare the entry to distribute the remaining cash to the partners assuming any deficiencies are paid by thepartners.

Apr 24 2020 View more View Less

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