Coburn (beginning capital, $57,000) and Webb (beginning capital $86,000) are partners. During 2017, the partnership earned net income of $75,000, and Coburn made drawings of $16,000while Webb made drawings of $24,000.

Assume the partnership income-sharing agreement calls for income to be divided with a salary of $41,000to Coburn and $36,000to Webb, interest of12% on beginning capital, and the remainder divided 50%-50%. Prepare the journal entry to record the allocation of net income.(Credit account titles are automatically indented when amount is entered. Do not indent manually.)