Dallas, Valdez, and Wagman are liquidating their partnership Before selling the assets and paying the abilities, the capital balances we Dalas 541,00 Valda532.000 and Wagan 22.000 The probandoshingnes been 2 2.1 for Dallas, Valdez, and Wagman, respectively. The partnership has 573,000 cash, 548.000 non cash, and 526.000 accounts payable Read the requirements Requirement 1. Assuming the partnership sets the non-cash assets for $57,000, record the journal entries for the sale of non cash assets, allocation of gain or loss on liquidation, the payment of the outstanding and the distribution of remaining cash to partners (Record debits first, then credits Select the explanation on the lat line of the journal entry table) Journare the sale of the non-cash assets for $57.000 Date Accounts and Explanation Debit Credit Dec 31 Choose from any est or enter any number in the input helds and then click Check Answer pod C All 7 parts inin Requirements 1. Assuming the partnership sells the non-cash assets for $57,000, record the journal entries for the sale of non-cash assets, allocation of gain or loss on liquidation, the payment of the outstanding liabilities, and the distribution of remaining cash to partners. 2. Assuming the partnership sells the non-cash assets for $18,000, record the journal entries for the sale of non-cash assets, allocation of gain or loss on liquidation, the payment of the outstanding liabilities, and the distribution of remaining cash to partners