(10 points)The partners of Donald, Chief & Berry LLP decided to liquidate on August 1, 2013. The balance sheet of the partnership is as follows, with the profit and loss ratio of 25%, 45%, and 30%, respectively 7. DONALD, CHIEF,&BERRY LLP Balance Sheet August 1, 2013 Assets Liabilities& Partners' Capital Trade accounts payable Loan payable to Chief Donald, capital Chief, capital Berry, capital $130,000 60,000 140,000 160,000 110000 S600.000 Cash Loan receivable from Donald Other assets S 60,000 40,000 500,000 Total 600,000 Tota A) Record the disposal of Other Assets with a carrying amount of $500,000 for $340,000 cash B) Record the offset for the loan receivable from Donald and the loan payable to Chief. C) Record the payment of the accounts payable to the creditors. D) Record the cash distribution after A, B and C to complete the liquidation of the partnership