In the Process of Liquidation,a Partnership Firm Sells Its Non-Cash

Multiple Choice

In the process of liquidation,a partnership firm sells its non-cash assets of a book value of $46,000,for $76,000.Which of the following will be included in the entry to record the sale of assets at liquidation?

A) Gain on disposal will be debited by $30,000.
B) Gain on disposal will be credited by $76,000.
C) Gain on disposal will be debited by $76,000.
D) Gain on disposal will be credited by $30,000.