The RAD Partnership is to be liquidated and the ledger shows the following: Cash 15,000 Noncash assets 80,000 Liabilities 20,000 Reed, Capital 30,000 Ales, Capital 40,000 Dent, Capital 5,000 Reed, Ales, and Dent's profit ratios are 6:3:1 respectively. Required: Prepare separate entries to record the liquidation of the partnership assuming that the noncash assets are sold for $50,000 in cash