Exercise 12-09 the or . Sheridan Company at December 31 s cash $20,800 oncash assets $105,000 liabilities54,600, and the following capital balances: F oyd 46,400 and Dewitt24,800. The ri is liquidated, and $120,000 in cas is received ror the noncash assets. Floyd and Sheran Company now dseldes e Dewitt income ratios are 70% and 30%, respectively, Sheridan Company now decides to liquidate the partnership. Prepere the entries to record: automatically indented when amount is entered. Do not indent manually.) a. The sale of nancash assets. b. The allocation of the gain ar loss on realization to the partners cPayment of creditors. d. Distribution of cash to the partners, (Credit account titles are Account Titles and Explanation Debit Credit b. d. Click if you would like to Show Work for this question: pen Show Work