Coburn (beginning capital, $63,000) and Webb (beginning capital $94,000) are partners. During 2020, the partnership earned net income of $68,000, and Coburn made drawings of $14,000while Webb made drawings of $23,000.

Assume the partnership income-sharing agreement calls for income to be divided40% to Coburn and60% to Webb. 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.)

Account Titles and Explanation Debit Credit

? ? ?

? ? ?

? ? ?