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Need help to journalize the payment of liabilities. (Click the icon to view the balances.) Martinez and Kemdall share profits 3:2, respectively. Martinez and Kemdall

Need help to journalize the payment of liabilities.

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(Click the icon to view the balances.) Martinez and Kemdall share profits 3:2, respectively. Martinez and Kemdall decide to liquidate the partnership. Journalize the sale of the non-cash assets for $4,500, the payment of the liabilities, and the payment to the partners. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit 2018 Jun. 30 Cash 4,500 Loss on Disposal 9,000 Non-cash Assets 13,500 To record the sale of Non-cash Assets at liquidation. Journalize the allocation of any gain or loss on the sale of the non-cash assets. Date Accounts and Explanation Debit Credit 2018 Jun. 30 Martinez, Capital 5,400 Kemdall, Capital 3,600 9,000 Loss on Disposal Clear all Check ans

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