George Atlanta and Harriett Kirshner formed a partnership Names 'A&K Consulting' on July 1 based upon the following language in the partnership agreement:
	1. George Atlanta agrees to invest $30,000 cash and inventory valued at $56,000
	2. Harriett Kirshner agrees to invest the same $86,000 in the following manner:
	Transfer of assets and liabilities of her business as listed below and will contribute enough cash to equal the investment by George Atlanta of $86,000. The Invetment by Harriett Kirshner will be at the agreed value
			Investment by Harriett Kirshner
			Balances on Kirshner's records	Agreed Value
	Accounts Receivable		$ 81,680	$ 79,600
	Inventory		$ 11,400	$ 12,800
	Office Equipment (net)		$ 14,300	$ 9,000
	Accounts Payable		$ 24,800	$ 24,800
	Totals		$ 132,180	$ 126,200
	REQUIRED
	(a) Prepare the necessary journal entries to record the investments of Atlanta and Kirshner in the new partnership
	(b) Prepare a balance sheet at the beginning of the partnership (July 1) to reflect the transfers by both Atlanta and Kirshner into the new firm
	( c) The partnership fiscal year end is June 30. Prepare the journal entries to close the income summary account and drawing accounts. The income summary account reflects a credit balancd of $74,000 and each partner had a drawing account debit balance of $31,000.