SunlandCompany at December 31 has cash $23,800, noncash assets $103,000, liabilities $53,600, and the following capital balances: Floyd $45,600and DeWitt $27,600. The firm is liquidated, and $112,000in cash is received for the noncash assets. Floyd and DeWitt income ratios are70% and30%, respectively.SunlandCompany now 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.

Account Titles and Explanation Debit Credit

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A. ? ? ?

A. ? ? ?

B. ? ? ?

B. ? ? ?

B. ? ? ?

C. ? ? ?

C. ? ? ?

D. ? ? ?

D. ? ? ?

D. ? ? ?