Immediately prior to the process of liquidation, partners Micco, Niccum, and Orwell have capital balances of $70,000, $20,000, and$30,000 respectively. There is a cash balance of $10,000,non-cash assets total $160,000, and liabilities total $50,000. The partners share net income and losses in the ratio of 2:2:1. Journalize the entries to record the liquidation outlined below,using Assets as the account title for the non-cash assets and Liabilities as the account title for all creditors' claims. -1 Sold the nonc ash assets for $80,000 in cash. -2 Distributed the cash to the partners