Sedgwick Company at December 31 has cash $23,800, noncash assets $103,000, liabilities $53,600, and the following capital balances: Floyd $45,600 and DeWitt $27,600. The firm is liquidated, and $112,000 in cash is received for the noncash assets. Floyd and DeWitt income ratios are 70% and 30%, respectively. Sedgwick Company now decides to liquidate the partnership.

Prepare the entries to record:

(a)		The sale of noncash assets.
(b)		The allocation of the gain or loss on realization to the partners.
(c)		Payment of creditors.
(d)		Distribution of cash to the partners.