Liquidation 9. From the following, journalize the (a) sale of assets and (b) loss or gain from liqui- dation realization. Given: Cash $3,300 Other Assets 18,500 Liabilities 4,400 Maxwell, Capital 5,200 Casey, Capital 7,400 Eaton, Capital 8,300 Partners agreed to share losses or gains in a 3:3:4 ratio and sold other assets for $22,500.