At the end of its first year of operations, on December 31, 2021, IVANHOE Partners accounts show the following:

Partner		Drawings				Capital
J. Chapman-Brown			$18,300			$30,000
C. Duper			7,680			40,000
H. Weir			5,110			50,000

The capital balance represents each partners initial capital investment. No closing entries for profit (loss) or drawings have been recorded as yet.

Journalize the entries to record the division of profit for the year ended December 31, 2021, under each of the following independent assumptions: (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

1.		Profit is $39,000. Duper and Weir are given salary allowances of $8,600 and $11,200, respectively. The remainder is shared equally.
2.		Profit is $41,000. Each partner is allowed interest of 8% on beginning capital balances. Chapman-Brown, Duper, and Weir are given salary allowances of $15,100, $18,900, and $19,400, respectively. The remainder is shared in a ratio of 5:3:2.

At the end of its first year of operations, on December 31, 2021, IVANHOE Partners' accounts show the following: Partner J. Chapman-Brown C. Duper H. Weir Drawings $18,300 7,680 5,110 Capital $30,000 40,000 50,000 The capital balance represents each partner's initial capital investment. No closing entries for profit (Loss) or drawings have been recorded as yet. Journalize the entries to record the division of profit for the year ended December 31, 2021, under each of the following independent assumptions: (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) 1. 2. Profit is $39,000. Duper and Weir are given salary allowances of $8,600 and $11,200, respectively. The remainder is shared equally. Profit is $41,000. Each partner is allowed interest of 8% on beginning capital balances. Chapman-Brown, Dupere, and Weir are given salary allowances of $15,100, $18,900, and $19,400, respectively. The remainder is shared in a ratio of 5:3:2. Debit Credit Date (1) Dec. 31 Account Titles and Explanation Income Summary 39000 J. Chapman-Brown, Capital C. Duper, Capital H. Weir, Capital H. Weir, Drawings (To close Income Summary.)