Nicholas Jay, Kamla Paul, and Stephanie Ram plan to liquidate their partnership. They have always shared losses and gains in a 1:4:5 ratio, and on the day of the liquidation their balance sheet appeared as follows: Under the following four independent assumptions, prepare the journal entries for the sale of the "land" and "buildings", allocation of any loss or gain, any deficit(s), the payment of the liability, and the distributions to the partners, if: Date Account Titles and Explanation Debit Credit 2016 Dec. 20 (To record the sale and realization of noncash assets) 20 (To allocate the loss or gain on realization to partners)