The partnership of Lauren, Alsop, and Benroudi liquidates by selling all noncash assets for $78,000. Using the following liquidation schedule, journalize the partnership's (a) sale of noncash assets for $78,000 (use a single account for Noncash Assets). (b) payment of liabilities, and (c) payment of cash to the partners on October 31. Include an explanation with each entry (Click the icon to view the liquidation schedule.) (a) Journalize the sale of noncash assets. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Journal Entry More Info - X Accounts Debit Credit (a) Capital Noncash Benroudi Lauren (60%) Alsop (20%) Cash + Assets = Liabilities + + + (20%) $ 9,600 $ 94,000 $ 22,600 5 44.000 $ 25,000 $ 12.000 Balance before sale of assets Sale of assets and sharing of gain Balances 78,000 (94000) (9.600) (3.200) (3.200) (b) Next, journalize the payment of liabilities 0 34.400 21,800 8.800 87 600 (22.600) Journal Entry 22.600 (22,600) Accounts Debit Credit Payment of liabilities Balances Disbursement of cash to partners 65,000 0 0 34.400 21.800 8.800 Choose from any list or enter any number in the input fields and then continue to the next 4 (65,000) (34.400) (21.800) (8.800 $ 0 $ 0 S 0 Balances $ 0 0 5 (b) Next, journalize the payment of liabilities. Journal Entry Accounts Debit Credit (b) (0) Finally, journalize the payment of cash to the partners on October 31 Journal Entry Date Accounts Debit Credit Choose from any list or enter any number in the input fields and then continue to the next