K. Martin (beginning capital, $54,000) and I. Clark (beginning capital $86,400) are partners. During 2024, the partnership reported profit of $86,400, and Martin made drawings of $19,440 while Clark made drawings of $21,600. Assume the partnership agreement calls for profit to be divided 45% to Martin and 55% to Clark. Prepare the journal entry to close the Income Summary account. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles Debit Credit

K. Martin (beginning capital, $54,000 ) and I. Clark (beginning capital $86,400 ) are partners. During 2024, the partnership reported profit of $86,400, and Martin made drawings of $19,440 while Clark made drawings of $21,600. Assume the partnership agreement calls for profit to be divided 45% to Martin and 55% to Clark. Prepare the journal entry to close the Income Summary account. (Credit account titles are outomatically indented when the amount is entered. Do not indent manually, List oll debit entries before credit entries. If no entry is required, select "No. Entry' for the occount titles and enter O for the amounts.)