It is urgent

On June 1, 2020, Jill Bow and Aisha Adams formed a partnership to open a gluten-free commercial bakery, contributing $284.000 cash and $368,000 of equipment, respectively. The partnership also assumed responsibility for a $44,000 note payable associated with the equipment. The partners agreed to share profits as follows: Bow is to receive an annual salary allowance of $154,000, both are to receive an annual interest allowance of 10% of their original capital investments, and any remaining profit or loss is to be shared 40/60 (to Bow and Adams, respectively. On November 20, 2020. Adams withdrew cash of $104,000. At year-end, May 31, 2021, the Income Summary account had a credit balance of $420,000. On June 1, 2021, Peter Williams invested $124,000 and was admitted to the partnership for a 20% interest in equity Required: 1. Prepare journal entries for the following dates. a. June 1, 2020 View transaction list View journal entry worksheet No General Jo Credit Debit 264.000 368.000 5 Date June 01, 2020 Cash Equipment Jl Bow, capital Aisha Adams, capital Notes payable 284.000 324,000 44,000 c. May 31, 2021 View transaction list Journal entry worksheet Record the closing of profit to capital. Note: Enter debits before credits Date Debit Credit General Journal May 31, 2021 fincome summary Jill Bow, capital Aisha Adams, capital 11 DI View transaction list Journal entry worksheet Record the admission of Williams for a 20% interest. Note: Enter debits before credits. Debit Credit Date General Journal June 01, 2021 Cash Jill Bow, capital Aisha Adams, capital Peter Williams, capital Record entry Clear entry View general journal 2. Calculate the balance in each partner's capital account immediately after the June 1, 2021. entry. Bow, capital Aisha Adams, capital Williams, capital