After revenue and expense accounts of The Quick Stop were closed on December 31, 2016, Income Summary

Question:

After revenue and expense accounts of The Quick Stop were closed on December 31, 2016, Income Summary contained a credit balance of $106,000. The drawing accounts of the two partners, Dan Eddy and Robert Jones, showed debit balances of $80,000 and $184,000, respectively. The agreement is silent on the division of profits and losses. Record the
Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...