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 $55,000,for $73,000.Which of the following will be included in the entry to record the sale of assets at liquidation?

A) Gain on Disposal will be credited by $73,000.
B) Gain on Disposal will be debited by $73,000.
C) Gain on Disposal will be credited by $18,000.
D) Gain on Disposal will be debited by $18,000.