2. Alfredo and Befoe formed a partnership, with Alfredo investing $30,000 and Befoe investing $40,000. Prepare journal entries for each of the following independent assumptions regarding distribution on net income (loss) in the first year.

a. Net income - $50,000. Nothing stated concerning distribution

b. Net income - $60,000. Divided 60% to $40%

c. Net loss - ($30,000). Alfredo is to received a salary of $12,000 and Befoe is to receive $9,000. Stated rate is 1.1.

d. Net income - $20,000. Interest rate of 10% on beginning balances. Stated ratio is 3.1.

e. Net income - $50,000. Alfredo is to receive a salary of $20,000 and Befoe is to receive $10,000. Interest on beginning balances of 10%. Stated ratio is 1.1.