ACCEOEUlSVAl-llBZ-DDI: Accounting II I Homework - Chapter 12 *Exercise 12-5 (Part Level Submission) Cohurn (beginning capital, $58,400} and Webb (beginning capital $94,300) are partners. During 2014, the partnership earned net income of $69,400, and Coburn made drawings of $19,150 while Webb made drawings of $24,370. \"(8) Your answer is correct. Assume the partnership income-sharing agreement calls for inoome to be divided 45% to Copurn and 55% to Webb. Prepare the journal entry to record the allocation of net income. {Credit account titles are automatlcally lntlented when amount ls entered. Do not lndent manually.) 55 1 {FE \"mm\" Attempts: 1 of 3 used '0') Assume the partnership incomesharing agreement calls for inoome to be divided with a salary of $30,800 to Coburn and $25,700 to Webb, with the remainder diVlded 45% to Cohurn and 55% to Webb. Prepare the journal entry to record the allocation of net income. (Credit account tlties are automatically indented when amount is entered. Do not indent manually.) Cidll Account 'I'lllel Ind Biplanl'on Attempts: 0 of 3 used