eir mel en $ GA Dawkins, Verell, and Walker are liquidating their partnership. Before selling the assets and paying the labilities, the capital balances are Dawkins $43,000; Verell, $35,000; and Walker, $23,000. The profit-and-loss-sharing ratio has been 3:1:1 for Dawkins, Verell, and Walker, respectively. The partnership has $86,000 cash, $39,000 non-cash assets, and $24,000 accounts payable. Read the requirements Journalize the payment of the liabilities. Date Accounts and Explanation Debit Credit Dec. 31 Accounts Payable 24,000 Cash 24,000 To record the payment of outstanding liabilities. Journalize the distribution of remaining cash to the partners. irp tl Jath Date: the Dec. 31 liq and nks Accounts and Explanation Debit Credit