At December 31, Cullumber Company has cash of $29.900, equipment of $140,000, accumulated depreciation of $38,900, accounts payable of $55,810, and the following partners' capital balances: H. Bayer $58,000 and J. Leech $17.190. The partnership is liquidated on December 31 of the current year and $125,000 cash is received for the equipment. Bayer and Leech share profits and losses equally. Prepare the entry to record the sale of the equipment.