please solve. part a). Property ,plant and equipment are sold for $724,800. part b). Property ,plant and equipment are sold for $141,600

Trish Craig and Ted Smith have a bio-energy and consulting business and share profit and losses in a 3.1 ratio. They decide to liquidate their partnership on December 31, 2020, when the balance sheet shows the following: $ 92,800 $518,400 200.800 317,600 $410400 Craig and Smith Consulting Balance Sheet December 31, 2020 Assets Cash Property, plant and equipment Less: Accumulated depreciation Total assets Liabilities Accounts payable Equity Trish Craig, capital Ted Smith, capital Total equity Total liabilities and equity $ 52,000 $ 246,400 112,000 358,400 $ 410,400 Required: Prepare the entries on December 31, 2020, to record the liquidation under each of the following independent assumptions: a. Property, plant, and equipment are sold for $724.800 View inurnal entry worksheet