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Anne and Del started their partnership tailoring business on 0 4 March 2 0 2 2 . The total value invested by both the partners

Anne and Del started their partnership tailoring business on 04 March 2022. The total value invested by both the partners are as follows:
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Cash $53,000 $50,100
Accounts Receivables 7,0003,000
Raw Material Supplies 10,0000
Equipment 12,50030,000
Computer 1,2002,000
Land 111,000250,000
Accounts Payable 31,0007,000
Mortgage payables 11,0008,000
During the year, Anne withdrawn $8,000 and Del made a withdrawal of $4,000. The net profit for the year stands to $118,000 and is to be distributed among the partners based on their contribution.
Requirements:
1. Prepare journal entries for recording the investments by both the partners.
2. Journalize the withdrawals for both partners.
3. Close the income summary and drawing accounts with T accounts and closing entries
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