The Zhuer Company at December 31 has cash 59,000, noncash assets 252,000, liabilities 139,000, and the following capital balances: Zhu 116,000 and Zerkel 56,000. The firm is liquidated, and 267,000 in cash is received for the noncash assets. Zhu and Zerkel income ratios are 70% and 30% respectively.

Prepare the entries to record:

(a) The sale of noncash assets

(b) The allocation of the gain or loss on liquidation to the partners.

(c) Payment of creditors

(d) Distribution of cash to the partners