Trich Craig and Ted Smith have a bio-energy and consulting business and thare profit and forces in a 3.1 ratio They decide to oudste their partnership on December 31 2020, when the balance shot shows the following Cransit Con Rice Sheet December, 2020 Assets Cach Property, plant and equipment $534.500 Lassi Accumulated depreciation 190.50 115.000 Total assets 46,500 Lilities Accounts payable $ 50,700 Equity Trish Craig, capital $245,100 Ted Smith, Capital 110,700 Total equity 15.00 Total abilities and equity $400.50 Required: Prepare the entries on December 31, 2020, to record the liquidation under each of the following independent assumption a Property, plant, and equipment are sold for $720,900 View tractions Journal entry worksheet > 2 4 Record the sale of property, plant and equipment Creibt General Journal Date Dec 2020 b. Property, plant, and equipment are sold for $140,300. View transaction llat Journal entry worksheet 2. 2 3 Record the sale of property, plant and equipment. Note: Enter debits before credits. General Journal Debit Credit Date Dec 31, 2020 View general Journal Contry