1. Journalize the entries to record the investments of Lang and Caprl in the partnership accounts. If an amount box does not require an entry, leave it blank. 3. After adjustments at March 31, 20Y2, the end of the first full year of operations, the revenues were $412,000 and expenses were $254,000, for a net income of $158,000. The drawing accounts have debit balances of $55,000( Lang) and $47,000(Capri). Journalize the entrles to close the revenues and expenses and the drawing accounts at March 31, 20Y2. If an amount box does not require an entry, leave it blank. Entries and Balance Sheet for Partnership On April 1, 20Y1, Whitney Lang and Ell Capri form a partnership. Lang agrees to invest $16,700 cash and merchandise inventory valued at $45,100. Capri invests certain business assets at valuations agreed upon, transfers business liabilities, and contributes sufficient cash to bring his total capital to $112,000. Detalis regarding the book values of the business assets and fiabilities, and the agreed valuations, follow: The partnership agreement includes the following provisions regarding the division of net income: interest of 10% on original investments, salary allowances of $50,100 (Lang) and $30,600 (Capr), and the remainder equally. 3. After adjustments at March 31,20Y2, the end of the first full year of operations, the revenues were $412,000 and expenses were $254,000, for a net income of $158,000. The drawing accounts have debit balances of $55,000 (Lang) and $47,000 (Capri), Journalize the entries to close the revenues and expenses and the drawing accounts at March 31, 20Y2. If an amount box does not require an entry, leave it blank. 2. Prepare a balance sheet as of April 1, 20Y1, the date of formation of the partnership of Lang and Capri