4. Geraldine Gaynor and Hortense Harris are partners in the GH partnership. Geraldine has a 70% interest and Hortense has a 30% interest. Hortense has a guaranteed annual salary of $60,000. The GH Partnership has a $200,000 loss for the Year Ended December 31, 2020. Required: Prepare the journal entry to close Income Summary to the Partner's capital accounts. 5. Ignatz Irwin is a partner in the IJ partnership. On July 1st, Ignatz sold his partnership interest to Matilda Martin for $90,000 cash. At the time of the sale Ignatz Irwin's Capital Account had a balance of $40,000. Required: Prepare the journal entry tha IJ Partnership records for the sale of the partnership interest. 6. Kyle King, Lolly Lewis and Martha Moore are equal partners in the KLM Partnership. On July 1st, Lolly Lewis withdrew from the partnership and received a $50,000 cash payment. At the time of the withdrawal Lolly had a $30,000 balance in her capital account. Required: Prepare the appropriate journal entry for Lolly's withdrawal from the KLM Partnership. 7, Noelle North, Orlando Oppenheimer and Patty Patterson are equal partners in the NOP Partnership. On August 1st, Noelle withdrew from the partnership and received a $100,000 cash payment. At the time of her withdrawal Noelle had a $140,000 balance in her capital account. Required: Prepare the appropriate journal entry for Noelle's withdrawal from the NOP Partnership