Instructions: Prepare a statement of partnership liquidation and the entries to record the following: 1. Realization (Sale) of all non-cash assets 2. Distribution of gain on sale to the partners 3. Settlement of the liabilities 4. Distribution of remaining cash to the partners After several years of operating, partners Castorini, Dufresne, and Mardukas decided to liquidate their partnership. After preparing the closing entries on June 30, 20X1, the following accounts remained open: Account Title Cash Non-cash Assets Liabilities Castorini, Capital Dufresne, Capital Mardukas, Capital Account Balance Debit Credit P100,000 2,350,000 P450,000 900,000 500,000 600,000 The non-cash assets are sold for P3,650,000. Partners share profits and losses equally.