l. Tono, Toni, and Adi would like to combine businesses to form a Partnership. Tono contributes the following Equipment, $52,500. Building, $15,950.00, Notes Payable, 1,150.00, and cash 6,000. Toni contributes the following: Accounts Receivable, $15,200.00, and $870.00of cash. how the journal entry to record the contributions, which occurred on August 21 , 2017. Adi is going to be an industrial partner.

2. Tono, Toni, and Adi Partnership registered a net profit of $300,000.00 of net income for 2015. The partnership agreement states that each partner must receive a monthly salary of $12,000.00 for Tono, and Toni, and Adi,

$ I 0,000.Remaining balance will be divided equally. how the summary of the division of profits and the journal entry to record the division of net income.