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Problem 5 (20 points) Following are the balances of the assets, liabilities and equity accounts of BSS Partnership as of November 3, 2025. Liquidate the

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Problem 5 (20 points) Following are the balances of the assets, liabilities and equity accounts of BSS Partnership as of November 3, 2025. Liquidate the partnership. The non-cash assets were sold for $62,000. Allocate any gains or losses 1/3 to each partner Cash $250,000 Non-cash assets $50,000 Accounts payable $30,000 Capital, Bill $90,000 Capital Steve Capital, Skip $90,000 $90,000 a. Journalize the sale of the non-cash assets. b. Journalize the allocation of any gain or loss on the sale of the non-cash assets. c. Journalize the payment of all liabilities. d. Journalize the distribution of any remaining cash to the partners

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