The book value of the non-cash assets of the MLW partnership is \($150,000.\) In liquidation, the partnership sells the non-cash assets for \($174,000.\) Partners M, L, and W split profits equally. How should the partnership account for the sale of the noncash assets?

a. Debit cash for \($174,000\)

b. Increase each of the partners’ capital accounts by \($8,000\)

c. Credit the non-cash assets for \($150,000\)

d. All of the above