Balance Sheet December 31, 2024 Requirements 1. Assume the non-cash assets are sold for $150,000. Journalize the liquidation transactions. 2. Assume the non-cash assets are sold for $100,000. Journalize the liquidation transactions. The parthership of Seymour, Packard, \& Malone has experionced operating losses for three conseculive years. The parthers-who have shared profits and losses in the ratio of Seymour, 15%; Packatd, 60%; and Malone, 25\%-are liquidating the business. They ask you to aralyze the elfocts of liquidation They prosent the following condensed partnership balance sheet at December 31,2024 (Click the icon to view the balance shoot.) Read the requirements. explanation on the last line of the journal entry table.) Journalize the sale of the non-cash assets for $150,000