1) Bonnie and Clyde have a partnership agreement which includes the following provisions regarding sharing net income or net loss: 1. A salary allowance of $45,000 to Bonnie and $25,000 to Clyde. 2. An interest allowance of 10% on capital balances at the beginning of the year. 3. The capital balances on January 1, 2021, for Bonnie and Clyde were $85,000 and $95,000, respectively. 4. The remainder to be divided 50% to Bonnie and 50% to Clyde. 5. Net Income was $80,000 on Dec 31, 2021 1. Calculate the Division of Net Income for each Partner using a table 1. Record the Journal Entry to update their Capital Accounts General Journal Date Particulars Page PR Debits Credits