BTZ Company is liquidated when its ledger shows the assets, liabilities, and equity accounts $($amounts in thousands$)$ are presented as follows: BTZ Company is liquidated when its ledger shows the assets, liabilities, and equity accounts

$($amounts in thousands$)$ are presented as follows:

The partners of BTZ Company agree to liquidate the partnership on the following terms.

The partnership will sell its non$-$cash assets to BLX Enterprises for HK$$69,000$ cash.

The partnership will pay its partnership liabilities. The income ratios of the partners are $2$:$3$:$1,$

respectively.

BTZ distributes the remaining cash to the partners on the basis of their capital balances,

Question:

How do you record the sale of noncash assets?

How do you allocate the gain$/$loss to the partners?

How do you record paying the creditors in full?

How do you record the distribution of cash?