Nicholas Jay, Kamla Paul, and Stephanie Ram plan to liquidate their partnership. They have always shared losses and gains in a 145 ratio, and on the day of the liquidation their balance sheet appeared as follows: -/25 Assets Cash The Jaijairam Company Balance Sheet December 20, 2016 Liabilities and Owners' Equity $ 80,000 Notes Payable 204,000 Nicholas Jay, Capital 164,000 Kamla Paul, Capital Land $ 91,000 Buildings 74,000 203,000 Total Assets $448.000 Stephanie Ram, Capital Total Liabilities & Owners' Equity 80,000 $448.000 2) The "Land" and "Buildings were sold for $283,000. (Credit account titles are automatically Indented when the amount is entered. Do not Indent manually. Do not use dollar signs ($) when entering amounts. To see commo-formatted numbers reflected in your final answers, you must enter your answers with commas. Round answers to 2 decimal places, eg. 5,275.25.) Date Account Titles and Explanation 2016 Debit Credit Dec. 20 (To record the sale and relation 3) The "Land" and "Buildings were sold for $ 143,000, and any partners with a resulting deficits can and do pay the amount of their deficits. (Credit account titles are automatically Indented when the amount is entered. Do not Indent manually. Do not use dollar signs ($) when entering amounts. To see comma-formatted numbers reflected in your final answers, you must enter your answers with commas. Round answers to 2 decimal places, eg. 5,275.25.) -/25 E Date Account Titles and Explanation 2016 Dec. 20 Debit Credit (To record the cale 4) The "Land" and "Buildings" were sold for $ 128,000, and the partners with deficits have no assets other than those invested in the business. (Credit account titles are automatically Indented when the amount is entered. Do not indent manually. Do not use dollar signs ($) when entering amounts. To see comma-formatted numbers reflected in your final answers, you must enter your answers with commas. Round answers to 2 decimal places, eg. 5,275.25.) Date Account Tities and Explanation 2016 Debit Credit Dec. 20