Joel, Angus and Jack, decided to form a partnership, Brilliant Bookkeepers, as at 1 July 2019.The partnership agreement sets out the following terms: Joel is to contribute $50,000 cash, Computer Equipment at fair value of $22,000, Accounts Receivable of $15,000 and notes payable of $10,000. Angus will contribute $60,000 cash and act as manager for Brilliant Bookkeepers at an annual salary of $55,000 to be allocated to him at the end of each year. Jack will contribute land and buildings valued at $450,000. A mortgage of $250.000 secured over the premises was outstanding and the partnership agreed to assume the mortgage Profits or losses of the firm to be divided between or borne by Joel, Angus and Jack in the proportion of 2:1:3 respectively. Required a) Prepare journal entries necessary to open the records of the partnership. (5 marks) b) Assuming in the first year that the partnership makes a profit of $73,000, prepare the journal entries to record the allocation of profit distribution to Joel, Angus and Jack, for the year ended 30 June 2020. Retained Earnings accounts are not used