Maps FieldLevel StockX Connect STEAM eBook Print Item Partnership Entries and Statement of Partnership Equity The capital accounts of Angel Alvarez and Emma Allison have balances of $47,000 and $73,000, respectively, on January 1, 2014, the beginning of the fiscal year. On March 10, Alvarez invested an additional $8,000. During the year, Alvarez and Allison withdrew $32,000 and $39,000, respectively, and net income for the year was $62,000. Revenues were $483,000, and expenses were $421,000. The articles of partnership make no reference to the division of net income. a. Journalize the entry to close the revenues and expenses. For a compound transaction, if an amount box does not require an entry, leave it blank. Revenues Emma Allison, Capital 62,000 X Angel Alvarez, Capital Emma Allison, Capital Feedback 31,000 31,000 Check My Work a. Close revenue and expenses to the capital accounts. Close the drawing accounts to the capital accounts. Journalize the entry to close the drawing accounts. For a compound transaction, if an amount box does not require an entry, leave it blank. Chace MyWork DELL Movch Previousl 80F +4 6:47 PM 1/24/2022 E