Exercise 12-16 (similar to) Prior to liquidation, the accounting records of Glow, Webber, and Mickelson included the following balances and profit and loss sharing percentages. Capital Noncash Glew Webber Mickelson Cash Assets Liabilities (45%) (30%) Balances before sale of assets $ 33,500 + $ 64,500 = $ 30,000 + $ 24,000 + $ 24,000 + $ 20,000 The partnership sold the noncash assets for $75,000, paid the liabilities, and disbursed the remaining cash to the partners. Complete the summary of transactions in the + . . . (Use a minus sign or parentheses when subtracting numbers. Enter an amount only in the accounts affected by a transaction. Enter a balance for each acce Capital Noncash Glew Webber Mickelson Cash Assets Liabilities - (45%) (30%) (25%) $ 33,500 + $ 64,500 = $ 30,000 + $ 24,000 + $ 24,000 + 5 20.000 + . . Balance before sale of assets Sale of assets and sharing of gain Balances Enter any number in the edit fields and then click Check Answer Clear All 2 remaining O Type here to search