8. On November 1, the MFP Partnership is to be liquidated when the ledger shows the following: Cash $50,000, Noncash Assets $200,000, Liabilities $50,000, Mossimo Capital $75,000, Fandango Capital $107,000, Plank Capital $18,000. Instructions Prepare the journal entries for the following transactions: Date a. a. Noncash assets are sold for $140,000 in cash. b. Gain/loss from liquidation was distributed evenly. C. Liabilities were paid in full. d. Plank contributes cash to cover his deficiency after the loss allocation. e. Remaining cash was distributed to the partners. Account Debit Credit b. C. d. e.