On December 31, Nola Company has cash $30,500, noncash assets $154,000, and liabilities $77,500. Capital balances were Harper $63,500 and Kahle $43,500. The firm is liquidated, and the noncash assets are sold for $123,000. Harper and Kahle share income in a 60:40 ratio. Prepare entries to record (a) the sale of noncash assets and (b) the allocation of the gain (loss) on liquidation to the partners. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Account Titles and Explanation (a) Loss on Realization (b) Cash Noncash Assets Harper, Capital Kahle, Capital Loss on Realization Debit 123000 Credit