Matthews, Mitchell, and Michaels are partners in BG Land Development Company and share losses in a 5:3:2 ratio, respectively. The balance sheet on June 30, 20X1, when they decide to liquidate the business, is as follows: Assets Liabilities and Capital Cash $ 9,000 Accounts Payable $ 26,000 Noncash Assets 135,000 Mitchell, Loan 15,000 Matthews, Capital 65,000 Mitchell, Capital 24,000 Michaels, Capital 14,000 Total Assets $ 144,000 Total Liabilities and Equities $ 144,000 The noncash assets are sold for $105,000. Required: Prepare a statement of partnership realization and liquidation. Prepare the required journal entries to account for the liquidation of BG Land Development Company