1/1 1/6 1/10 1/1 Case four: (15 marks) Raft and Barakat organized their partnership on 1/1/2020. The following entries were made into their capital accounts during 2020 Raft Debit Credit Balance 55,000 55,000 15,000 70,000 25,000 95.000 12/1 15,000 80,000 Barakat 45,000 45,000 1/3 10,000 55,000 15,000 40,000 9/1 1/11 10,000 30,000 1/12 40,000 70,000 If partnership profits for the year equaled $66,000, indicate the allocations between the partners under the following profit-sharing allocation conditions and journalize the required entries: 1) a salary of $15,000 is allocated to Barakat, a $10,000 salary is allocated to Raft. 2) 12% interest on weighted capital is allocated to both partners. 3) A bonus of 20% of partnership profits after (bonus, salary and interest) bonus is credited to Raft. 4) the remainder 30%Raft and 70% Barakat 1/1 1/6 1/10 1/1 Case four: (15 marks) Raft and Barakat organized their partnership on 1/1/2020. The following entries were made into their capital accounts during 2020 Raft Debit Credit Balance 55,000 55,000 15,000 70,000 25,000 95.000 12/1 15,000 80,000 Barakat 45,000 45,000 1/3 10,000 55,000 15,000 40,000 9/1 1/11 10,000 30,000 1/12 40,000 70,000 If partnership profits for the year equaled $66,000, indicate the allocations between the partners under the following profit-sharing allocation conditions and journalize the required entries: 1) a salary of $15,000 is allocated to Barakat, a $10,000 salary is allocated to Raft. 2) 12% interest on weighted capital is allocated to both partners. 3) A bonus of 20% of partnership profits after (bonus, salary and interest) bonus is credited to Raft. 4) the remainder 30%Raft and 70% Barakat