Please answer in this format, thank you so much!!

Kendra, Cogley, and Mei share income and loss in a 3:2:1 ratio (in ratio form: Kendra, 376; Cogley, 2/6; and Mei, 1/6). The partners have decided to liquidate their partnership. On the day of liquidation, their balance sheet appears as follows. Assets Cash Inventory $255,500 $ 89,400 540,600 Balance Sheet Liabilities Accounts payable Equity Kendra, Capital Cogley, Capital Mei, Capital Total liabilities and equity 74,900 168,525 131,075 $630,000 Total assets $630,000 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. Enter losses and partner deficits, if any, as negative amounts.) 1. Inventory is sold for $612,600. 2. Inventory is sold for $471,600. 3. Inventory is sold for $328,200 and partners with deficits pay their deficits in cash. 4. Inventory is sold for $297,000 and partners with deficits do not pay their deficits. Complete this question by entering your answers in the tabs below. Required 1 Inventory Required 1 GJ Required 2 Inventory Required 2 GJ Required 3 Inventory Required 3 GJ Required 4 Inventory Required 4 GJ Complete the schedule allocating the gain or loss on the sale of inventory is $612,600. Step 1) Determination of Gain (Loss) Proceeds from the sale of inventory Inventory cost $ 612,600 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 $ $ $ 168,525 $ 131,075 $ 374,500 Journal entry worksheet 2 3 4 Record the sale of inventory. Note: Enter debits before credits. General Journal Debit Credit Transaction (a) Journal entry worksheet