Problem C - VI - Partnership Liquidation ( 20 points ) The balance sheet of the Tri Brothers Partnership just prior to liquidation appears below :" Tri Brothers Partnership Balance Sheet December 31 , 2017 Assets Liabilities and Owners' Equity Cash $ 140 , 000 Liabilities $240 , 000 Noncash assets 380, 000 Grayson , Capital 40 , 000 Lawson , Capital 160, 000 Myers , Capital 80 , 000 $520 , 000 $520, 000 Other information :" 1 . The partners Grayson , Lawson , and Myers share profits and losses in the ratio of 6:3: 1 The noncash assets are sold for $280 , 000 .` The liabilities are paid in full ." 4 . The remaining assets are distributed to the partners . Assume that if any partner has a capital deficiency , he will not be able to pay the amount owed to the partnership . Instructions : Prepare the five entries to record the liquidation of the Tri Brothers Partnership . DATE ACCOUNT TITLES DEBIT CREDIT