After several years of business, Abel, Barney, and Cole are liquidating. The following are post-closing account balances.
Non-cash assets are sold for $275,000. Profits and losses are shared equally.
Record the sale of the noncash items.

Question

After several years of business, Abel, Barney, and Cole are liquidating. The following are post-closing account balances.
  Non-cash assets are sold for $275,000. Profits and losses are shared equally.
Record the sale of the noncash items.

Quizplus · Accepted Answer

The Answer of After several years of business, Abel, Barney, and Cole are liquidating. The following are post-closing account balances.
  Non-cash assets are sold for $275,000. Profits and losses are shared equally.
Record the sale of the noncash items.

After Several Years of Business, Abel, Barney, and Cole Are