Farrell and Jimmy enter into a partnership agreement on May 1, 2017. Farrell contributes $50.000 and Jimmy contributes 5140,000 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, 2017 is $60,000. Which of the following is the correct journal entry to record the allocation of profit? Your answer 44,211 Farrell, Capital Jimmy, Capital 44,212 60,000 Income Summary Farrell. Capital 15,759 44,211 Jimmy, Capital 15,759 0 Farrell, Capital Timmy, Capital Income Summary 44.212 60,000 28.422 Income Summary Farrell, Capital Jimmy, Capital 15,759 44.211 Clear