Sheridan Company at December 31 has cash $20,800, noncash assets $105,000, liabilities $54,600, and the following capital balances: Floyd $46,400 and DeWitt $24,800. The firm is liquidated, and $120,000 in cash is received for the noncash assets. Floyd and DeWitt income ratios are 70% and 30%, respectively. Sheridan Company decides to liquidate the partnership. Prepare the entries to record: (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

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.