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Current Attempt in Progress Togna Company had a $15,900 loss for the year ended October 31, 2021. The company is a partnership owned by Lilia

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Current Attempt in Progress Togna Company had a $15,900 loss for the year ended October 31, 2021. The company is a partnership owned by Lilia and Terry Tognazzini. Salary allowances for the partners are Lilia $24,200 and Terry $17,700. Interest allowances are Lilia 56,000 and Terry $8.900. The remainder is shared 75% by Lilia and 25% by Terry Calculate the loss to be allocated to each partner. (Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses 6.g. (45)) Lilia Terry loss allocated to the partners $ 1 e Textbook and Media Prepare a journal entry to close the income Summary account. (Credit account titles are automatically Indented when the antount is entered. Do not indent manually) Account Titles and Explanation Debit Credit (To close Income Summary)

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