Arrange the following common journal entries in a likely sequence after initial transfers during dissolution:
(i) Entry for payment of external liabilities
(ii) Entry for transfer of realisation profit or loss
(iii) Entry for sale of assets
(iv) Entry for payment of realisation expenses by the firm
1
(i), (iii), (iv), (ii)
2
(iii), (i), (iv), (ii)
3
(iii), (iv), (i), (ii)
4
(iv), (i), (iii), (ii)