Harry,Tony and Liza Run a Partnership Firm

Multiple Choice

Harry,Tony and Liza run a partnership firm.In the process of liquidation,the partnership sells non-cash assets,having a book value of $73,000,for $92,000.Which of the following is true of the journal entries?

A) Non-cash assets will be credited for $92,000.
B) Cash will be credited for $73,000.
C) Cash will be credited by $19,000.
D) Non-cash assets will be credited for $73,000.