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Read the tequicements. Journalize the sale of the non-cash assnts for $55,000. Requirements 1. Assuming...

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Accounting

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Read the tequicements. Journalize the sale of the non-cash assnts for $55,000. Requirements 1. Assuming the partnetship sels the nochcash aseets for $55,000, recerd the joumal eatries. Sor the sale of non-eash assets. afucation of gain of loss on ligadefon, the payment of the cutstanding liabites, and the dismbutisn of remaising cash fo partion. 2. Aswaming the partherkip sels the non-cash astets for \$18,000, iccord the jouthal entries for the sale of aon-cash ascats, alocation of pain or loss en iovidatser, the paymant of the outstanding liabines, and the distrbution of rinnaing eash so partres

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