, Hill, and Carter have capital balances of $ 20 comma 000, $ 40 comma 000, and $ 80 comma 000. The partners share profit as 1:1:3, respectively. The partnership had net income of $ 100 comma 000 for the year. Journalize the closing entry to allocate the net income. (Record debits first, then credits. Select the explanation on the last line of the journal entry table