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: a. Debit Liabilities 310,000 and credit Cash 310,000 b. Debit Liabilities 250,000 and credit Cash 250,000 Oc. Debit Cash 250,000 and credit Liabilities 250,000 Od Debit Cash 310,000 and credit Liabilities 310,000