Problem IV - Partnership Liquidation (Present ALL computation) The balance sheet of the ABC partnership just prior to liquidation appears below: ABC PARTNERSHIP Balance Sheet December 31, 2010 Other information: 1. The partners Agler, Bell, and Colaw share profits and losses in the ratio of 6:3:1. 2. The noncash assets are sold for $140,000. 3. The liabilities are paid in full. 4. The remaining assets are distributed to the partners. Assume that if any partner has a capital deficiency, he will not be able to pay the amount owed to the partnership. Instructions 1) Prepare the entries to record the liquidation of the ABC partnership