Frasier and Hamwey form a partnership on January 1, 2024, contributing $63,000 and $21,000, respectively. The partnership had net income of $163,000. Based on the partnership agreement, Frasier's share of net income was $95,500 and Hamwey's share was $67,500. Frasier and Hamwey each withdrew cash of $20,000 for personal use during the year Read the requirements CHE Requirement 1. Journalize the entry to close net income to the partners. (Record debits first, then credits. Select the explanation on the last line of the journal entry table)) Date Accounts and Explanation Debit Credit