01:56 all 4G Assignment Details ACCT8202 03 13412 - W21- Principles of Accounting INSTRUCTIONS: Welcome to Module 2. Please answer the question below. Moreover, you must also comment on two other students' work (your own submission is worth 7 points and the comments to other students posts are worth 3 points). Essay format NOT required since this is a calculation exercise. Sources are still required. CITATIONS NOT NEEDED FOR THIS DISCUSSION Note: Comments to other students must be substantive and detailed. Waiting until the last minute to submit your discussion robs the entire class a chance to comment on your submission and will NOT earn you full credit. Your original submission is due 24 hours before the due date to allow the last 24 hours for comments. View Discussion G Dashboard Calendar To Do Notifications Inbox 01:56 all 4G Assignment Details ACCT8202 03 13412 - W21- Principles of Accounting Syawla and Reven began a partnership by investing $120,000 and $230,000, respectively. During its first year ended Dec 31, 2021, the partnership had a $99,000 net loss. The partners have agreed to share income and loss by granting a $12,000 per month salary allowance to Syawla, a $6,000 per month salary allowance to Reven, 10% interest on their initial capital investments, and the remaining balance shared according to their initial capital balances. Required: 1. Prepare calculations showing how the $99,000 loss should be allocated to the partners. Hint: Consider a table like the one below. Excel will make your work very easy. SYAWLA REVEN TOTAL BALANCE Net Income (loss) Interest Allowances Salary Allowances Share of Balance Total View Discussion G Dashboard Calendar To Do Notifications Inbox 2. Prepare a journal entry to record the allocation from your calculations above