higher tham tian's booking record on 1 Janwary 2022 515 000. The bank loan aseoclated with offce fumiture is 510000 lucor also acts as maniaging partner at a salary of 520000 per year Cativy to contribute inventery valued at 524750. Interest to be allowed at ros p. a on the capital contribution by the partners. Residual piofis of lacses to be shared equally among thee paitners. Igncee 651 Reguired 1) Prepare the joumal entries necessary to open the records of the partnership. (5 Marks) 2). Assuming that the parthership makes a profit of 395000 for the year ended 30 lune 2022 prepare the foumal entuier to record the alliscation of protit. Retained farnings accoumts aze used for peofit distributian, (3 Marlos). bolow