Instructions The capital accounts of Angel Alvarez and Emma Allison have balances of $48,480 and $75,440, respectively, on January 1, 20Y4, the beginning of the fiscal year. On March 10, Avarez invested an addibional $8,220 During the year, Alvarez and Allison withdrew $32,670 and $40,2 respectively, and net income for the year $62,000. Revenues were $483,000, and expenses were $421,000. The articles of partnership make no reference to the division of net was income. Required: A. Journalize the entries to close (1) the revenues and expenses and (2) the drawing accounts on December 31. Refer to the Chart of Accounts for exact wording of account titles. and Allison. Refer to the Amount Descriptions list B. Prepare a statement of partnership equity for the current year for the partnership of Alvarez provided for the exact wording of the answer choices for text entries