Holden, Phillips, and Rogers are partners with beginning-year capital balances of $120,000, $60,000, and $60,000, respectively. Partnership net income for the year is $84,000. Make the necessary journal entry to close Income Summary to the capital accounts if: (a) Partners agree to divide income based on their beginning-year capital balances. 6) Partners agree to divide income based on the ratio of 5:3:2 (Holden Phillips:Rogers), respectively. (c) Partnership agreement is silent as to division of income and less. P. R. Date Account Titles and Explanation Debit Credit 8