Raul and Palmer share profits in the ratio $3$:$5$ and have capital balances of $$115,000$ each. They have decided to liquidate the partnership. The non$-$cash assets were listed on the balance sheet at $$45,000$ but were sold for $$70,000.$ The company has no liabilities. Journalize for the allocation of the gain and for the distribution of cash to the partner. $($Record debits first, then credits. Exclude explanations from

journal entries.$)$

Journalize the allocation of the gain.

Journalize the distribution of cash to the partners.