Assets Noncash assets Cash AOP PARTNERSHIP Statement of Financial Position December 31, 2020 Owners' Equity and Liabilities 285,000 Apple, Capital 60,000 45,000 Orange, Capital 90,000 Pearl, Capital 30,000 Liabilities 150.000 330.000 Total 330.000 Total The partners' income and loss sharing ratio is 2:3:5, respectively. If the Apple, Orange, and Pearl Partnership is liquidated by selling the noncash assets for 275,000, and creditors are paid in full. a) Prepare the journal entries for (i) sales of noncash assets; (ii) the share of loss on realization of non-cash assets to each partner; (iii) payment of the liabilities. Cash 275000 Loss on Realization Noncash 285000 10000 b) Prepare the journal entries for the remaining cash distribution to each partner. Show your working and calculation