E12 - 5 B K. Ison ( beginning capital , $50, 000) and I. Mccoy ( beginning capital $80,000 ) are partners . During 2017, the partnership earned net income of $Go, and , and Ison made drawings of $ 15, and while Mccoy made drawings of $ 20, 000 . Instructions ( a ) Assume the partnership income - sharing agreement calls for income to be divided 55 %6 to Ison and 45%6 to Mccoy . Prepare the journal entry to record the allocation of net income . ( b ) Assume the partnership income - sharing agreement calls for income to be divided with a salary of $ 30, 000 to Ison and $ 20, 000 to 1. Mccoy , with the remainder divided 55%6 to <_ ison and to mccoy. prepare the journal entry record allocation of net income c assume partnership sharing agreement calls for be divided with a salary k. mccoy interest on beginning capital remainder . d compute partners ending balances under assumption in part>