Kara Ries, Tommy Bax, and Joe Thomas invested $46,000, $62,000 and $70,000, respectively. In a partnership. During its first calendar year, the firm earned $351,000. Prepare the entry to close the firm's income Summary account as of its December 31 year-end and to allocate the $351,000 net income to the partners under each of the following separate assumptions: Problem 12-3A Part 1 Required: (1) The partners have no agreement on the method of sharing income and loss View transaction list Journal entry worksheet 1 Record the entry to close the income simmary account assuming the partners Record the entry to close the income summary account assuming the partners have no agreement on the method of sharing income and loss. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31