Farrell and Jimmy enter into a partnership agreement on May 1, 2018. Farrell contributes $60,000 and Jimmy contributes $120,000 as their capital contributions. They decide to share profits and losses in the ratio of their respective capital account balances. The net income for the year ended December 31, 2018 is $70,000. Which of the following is the correct journal entry to record the allocation of profit? (Do not round any intermediate calculations. Round your final answers to the nearest dollar)