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2. Assume the same given information in No. 1. Prepare the entry to divide net income if net income is to be divided as follows:
2. Assume the same given information in No. 1. Prepare the entry to divide net income if net income is to be divided as follows: a Interest of 10% on beginning capital balances. b Annual salaries of P5,000 to A and P4,000 to B. C. Bonus to Partner C amounting to P16,000. d. Remainder to be divided - 50:30:20. 3. Using the same given information in No. 2, prepare the entry to divide net income if net income is P35,000 only. 4. Using the same given information in No. 2, prepare the entry to close income summary if the partnership incurred a net loss of P60,000 for the year
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