Guanny-Ferry Partnership has a net income is P400,000 for the year 2021. The profit and loss agreements of Guanny and Ferry include the following: a. Interest at 12% per annum is to be allowed on the average capital. The following are the transactions affecting the capital accounts for the year 2021 Guanny Ferry Date Debit Credit Jan. 01 (beg.) P120,000 Date Jan. 01 (beg) Debit Feb. 28. P20,000 Mar. 31 Credit P160,000 40,000 Stri Apr. 30 20,000 Jul. 01 P30,000 Oct. 01 30,000 Aug. 31 20,000 Oct. 31 25,000 Oct. 311 10,000 b. Salary allowances to partners are Guanny -P60,000 and Ferry - P40,000. c. Bonus to Guanny at 25% of net income after deducting interest, salaries and bonus. d. Remainder is to be divided between Guanny and Ferry with the agreed ratio of 70:30, respectively. What is the closing entry