7 & Compostes The man to the questioned below Mou, and Darts formed the MLB Partnership by making investments of $74 700, 5200.500, and $104.000, respect They predict annual partnership net income of $492.000 and are considering the following statives of sharing income and loss equally in the ratio of the initial capital investments, or say towances of 3.200 to Me 362.400 tot and 94,000 to Barbe interest allowances of 10% on their initial capital investmentsand the remaining balance shared as follows: 20 to Mo, 40% to Luand 40% to Bar 3. Prepare the December 31 journal entry to close Income Summary assuming they agree to use plan cand that net income $492.000 Mo, Lu, and Barb Withrow $38,800, 552,900 and $68,800, respectively, ot year-end. Also close the withdrawals accounts View transaction et Journal entry worksheet 1 2 Record the entry to close the income summary account assuming the partners agree to use plan c and net income is $492,000. Note: Enter debits before credits Dobit Credit Date General Journal Dec 31 ST Next > Journal entry worksheet