The Kim Meadow & Laurie Kent partnership has the following balances on June $30,2016$ :

$($Click the icon to view the balances.$)$

Meadow and Kent share profits $1$:$1,$ respectively. Meadow and Kent decide to liquidate the partnership. Journalize the sale of the non$-$cash assets for $$9,500,$ the payment of the liabilities, and the payment to the partners. $($Record debits first, then credits. Select the explanation on the last line of the journal entry table.$)$

Data table