ine reusable moves Exercise 11-2 Journalizing partnership entries L02, 3 CHECK FIGURES: 1. Share of profit Regal: $135,250; Merle: $41.750 On April 1, 2020, Harry Repal and Meghan Merle formed a partnership in Alberta, renting reu boxes Merle Regal Contribution Profit sharing 97.000 cash 107.000 salary allowance 15% of original capital investments 137.000 land 50.000 building 15% of original capital investments Balance shared equally 77.000 Cash withdrawal during year 62,000 Net Income during the year was $177,000 and was in the Income Summary account. Required 1. Present general journal entries to record the initial capital investments of the partners, their cash with drawals, and the December 31 closing of the Income Summary and withdrawals accounts. 2. Determine the balances of the partners' capital accounts as of the end of 2020