The partnership of Frick. Wilson, and Clarke has elected to cease all operations and liquidate its business property. A balance sheet. drawn up at this time shows the following account balances: PartA Prepare a predistribution plan for this partnership. Prepare a predistribution plan for this partnership. Part B The following transactions occur in liquidating this business: 1. Distributed safe payments of cash immediately to the partners. Liquidation expenses of $9,000 are estimated as a basis for this computation. 2. Sold noncash assets with a book value of $102,000 for $66,000. 3. Pald all liabilities. 4. Distributed safe payments of cash agaln. 5. Sold remaining noncash assets for $55,000. 6. Paid actual liquidation expenses of $7,000 only. 7. Distributed remaining cash to the partners and closed the financlal records of the business permanently. Part C Prepare journal entrles to record the liquidation transactions reflected in the final statement of liquidation