The pipes company at 31/12/2019 has cash $250,000, non-cash assets $750,000, liabilities $310,000, and the following capital balances. Samar $340,000 and Qamar $350,000, the Firm is liquidated, and $700,000 in cash is received for the non-cash assets, Samar & Qamar income ratios 65%and 35% respectively. The journal entry for payment of liabilities is: O a Debit Cash 250,000 and credit Liabilities 250,000 O b. Debit Liabilities 310,000 and credit Cash 310,000 Oc Debit Cash 310,000 and credit Liabilities 310,000 Od Debit Liabilities 250,000 and credit Cash 250,000