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6. (5 points) The balance sheet of Rogers, Dennis & Berry LLP prior to liquidation included the following: $40,000 80,000 20,000 Cash Noncash assets Liabilities

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6. (5 points) The balance sheet of Rogers, Dennis & Berry LLP prior to liquidation included the following: $40,000 80,000 20,000 Cash Noncash assets Liabilities Loan Payable to Rogers Rogers, Capital Dennis, Capital Berry, Capital 10,000 35,000 30,000 25,000 The three partners shared net income and losses in a 5:3:2 ratio, respectively. Noncash assets were sold for $60, was retained pending future developments. 000. Creditors were paid in full, partners were paid $35,000, and the balance of cash Record the journal entry for A) the sale of the noncash assets, B) the payment of outstanding liabilities sheet look like after these transactions?-5 points) to the creditors, and C) the payments to the partners. (Extra credit: What does the balance

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