Farmer and Taylor formed a partnership with capital contributions of $245,000 and $295,000, respectively. Their partnership agreement calls for Farmer to recelve a $79,000 per year salary aliowance. The remaining income or loss is to be divided equally. Assuming net income for the current year is $189.000, the journal entry to allocate net Income is: Multiple Choice Debit income Summary, \$189,000; Credit Farmer, Capital, \$94,500; Credit Taylor. Capital, $94,500. Debit Income Summary, \$189,000; Credit Farmer, Capital, \$134.000: Credit Taylor. Capital. $55.000. Debit Income Summary, \$189.000; Credit Farmer, Capital, \$166.000; Credit Taylor. Capital, $23.000. Debit Income Summary. \$189.000: Credit Taylor, Capital, $134,000; Credit Farmer. Capital. $55.000. Debit income Summary, \$189,000; Credit Farmer. Capltal, \$48,840; Credit Taylor, Capital, $140,160