The Millman & Kirkland partnership has the following balances on June 30, 2024: (Click the icon to view the balances.) Millman and Kirkland share profits 3:1, respectively. Millman and Kirkland decide to liquidate the partnership. Journalize the sale of the non-cash assets for $18,500, 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.) Journalize the allocation of any gain or loss on the sale of the non-cash assets. Date 2024 Jun. 30 Millman, Capital Kirkland, Capital Loss on Disposal Accounts and Explanation To allocate loss on liquidation of Non-cash Assets. Debit Credit Data table 4,500 1,500 6,000 Cash Non-cash Assets Journalize the payment of the liabilities. Date Accounts and Explanation Debit Credit 2024 Jun. 30 Millman and Kirkland Balance Sheet June 30, 2024 Assets Liabilities 20,000 Accounts Payable 24,500 28,000 Partners' Equity Millman, Capital 6,000 10,500 Kirkland, Capital 16,500 Total Partners' Equity $ 44,500 $ 44,500 Total Assets Total Liabilities and Partners' Equity Print Done