Ioannou & Alexandrou are partners in an O.O. and the articles of association provide that the net profits shall be distributed among the partners, on the basis of the average capital actually committed by each partner to the company. The transactions carried out by each of the partners during the year are given in the table below

Ioannou	Euros
capital account balance	20.000
Loan to the company	10.000
Withdrawals	20.000
Alexandrou
Capital account balance	50.000
Withdrawals	20.000

WANTED 1. To calculate the amount of profit corresponding to each partner on the assumption that the total profits of the business for the current year is 250,000 (1 unit) 2. Make the relevant journal entries (0.5 units